Franchising Marketing Essay Example | Topics and Well Written Essays - 3000 words

Diversifying Marketing - Essay Example Diversifying has been perceived as a fruitful plan of action prompting quickened extension of the new store with neighborhood control of the establishment proprietors guaranteeing lesser monetary dangers with remunerations related with nearby possession which requires lower level of oversight and economies of scale. The most generally acknowledged meaning of an establishment alludes to a legally binding connection between a franchisee (typically taking type of an independent company) and a franchisor (normally a bigger business) wherein the previous consents to create or advertise an item or administration as per the diagram contrived by the franchisor(Stanworth et al. 1995) The executives Structures: Franchising is basically characterized as far as the lawful business understanding between two accomplices, the franchisor and the franchisee. The franchisor, who has recently settled a market-tried business bundle of items or administrations, goes into a proceeding with legally binding relationship with various franchisees, regularly entrepreneurs, who must work their organizations as indicated by the franchisor's predetermined arrangement (Curran and Stanworth, 1983). The franchisor gives a demonstrated strategy for activity, backing, and guidance on the setting up of the new franchisees, and furthermore ensures proceeding with help to the franchisee. Consequently, the franchisee pays a single amount contestant expense and different charges for customary administrations (that is, eminence on deals, publicizing charges, showcasing demand) (Fulop and Forward, 1997). Diversifying has been embraced a development system for some organizations in business with the appearance of globalization. It is a not the same as other type of business. An establishment is a half and half type of business portrayed by complex legally binding courses of action (Eisenhardt, 1989). Despite the fact that numerous establishments work among half breed and the order (unified or authoritative) firm and consolidate both the diversified units just as the organization claimed outlets (Brickley and Dark, 1987) In a half breed activity, the franchisor screens and controls the franchisee inside the cutoff points indicated in the establishment understanding. Interestingly, the franchisor works organization possessed outlets through their position over a concentrated administration or as a progressive association. The asset shortage hypothesis and the office hypothesis clarified the hypothesis of diversifying around the mixture and order types of establishment association. Backing for the organization hypothesis as a reason behind diversifying was considerable. Exploration found that the franchisee inspiration as a specialist was seen to be the most significant methodology of the establishment firms (Oxenfelt and Kelly, 1968-69) while the capital bit of leeway of diversifying, which was proposed by the asset shortage hypothesis, had a low affirmation by the franchisors (Lillis, Narayana and Gilman, 1976). The franchisee's high inspiration was most likely gotten from the idea of the establishment relationship. Diversifying includes a trade connection among franchisor and franchisee which was here and there portrayed as an association or key partnership (Stanworth and Kaufmann, 1996). The franchisee is essentially dealing with an outlet including the corporate system of the franchisor and to a limited degree has a level of self-governance in dealing with the outlet (Dant and Gundlach, 1998). Not at all like the organization possessed administrator, the f ranchisee appreciates more reliance in maintaining the everyday business Franchisee and Franchisor: The

Film Review Assignment Example | Topics and Well Written Essays - 750 words - 3

Film Review - Assignment Example In light of a genuine story, Missing weave the episode that occurred in Chile in 1973. An American independent columnist Charles Horman (John Shea) with his significant other Beth (Sissy Spacek) is in Chile as the open door presents them with the state of military overthrow to give an account of, during and after the system of Salvador Allande. As the time approaches for the couple to leave Chile to come back to America, Charles is been snatched by the military, which indicates the contribution of the American armed force †a spot where they ought not be available. The accompanying occasions delineate the dad of Charles, a moderate agent attempting to find his child and escape the wilderness of untruths and misleading depicted by the US government office with his girl in law. Like each film created to date, Missing contains a subject, focuses on a particular crowd and has barely any altering weaknesses. The topic of the film can be depicts as tending to the debate that had come about because of Charles Horman execution in 1973 and to unmistakably depict the contribution of US government in the situation. For example, in the beginning of the film Gavras instruct the individuals that the procedure scenes are represented and are reported as well; this infers whatever will be appeared in the film can't be addressed and the scenes are shot in the wake of approving the episode. Thus, we can innocuously accept that the Gavras indicating that the US government was included and the consulate had an influence in supporting or ordering the execution of Chalres Horman is right. In any case, at that point, this specific discussion clearing scenes opened new addressing from the general population just as the legislature. Individuals will in general get increasingly associated with a film if the film depends on a genuine occurrence, as this flick by Gavras falls in a similar classification the crowd focused by the chief was the American resident, on account of the way that the principle casualty of the film was an American and this point had been disputable for a significant stretch of

Where to Find Sneaky Supplements An Experts Guide

Where to Find Sneaky Supplements An Experts Guide Where to Find Sneaky Supplements Where to Find Sneaky Supplements Its a jungle out there, but we dont need to tell you that. Youve been scouring websites clicking on words like Requirements, Apply, and Unicorns (oh wait, no, that was us) trying to see if your dream schools require supplements. Its exhausting, but youre not the only one out here looking out for lions, tigers, and bears. Were here too and we know the corners where supplements are hiding. Usually, you can find the supplements in one of two places. If your school is on the Common App, they should be available under each school. But be warned: Occasionally schools wait to release their supplements until after the Common App release date (Aug. 1), so don’t simply assume that if a supplement isn’t listed that one isn’t required. Another mistake to avoid is checking the Writing Supplement section, seeing an essay, and thinking your search is over. Many schools also have additional essays in the Activities or Academics section. In fact, some schools even have an Additional Information section that is populated with required short answers. If your school is on the Coalition, you will need to fill out the standard logistical information first in order to access the essays. So type in your address, moms name, dogs name, whatever it is they want! Then head over to the essay section and look in there. Your safest bet is to comb through the entire application to make sure there are no supplements waiting to jump out at you the night before the deadline when youre ready to submit. The second source for the supplemental prompts is the school websites. This is the most reliable place to find information about a school’s supplemental essay requirements. The prompts are often listed in the “Admissions” section, or on a school’s admissions-specific blog. In many cases schools release their supplemental essay questions well in advance of the Common App live date, so keep your eyes peeled and your ears perked. The admissions section of school websites is also the place you want to look for essay questions if you’re applying to a school that isn’t affiliated with the Common Application. Finally, if youve exhausted those methods, you can take a look at our supplemental essay guide, where we have breakdowns of essay prompts for over 20 schools. You might even find some useful info while youre browsing! About CEA HQView all posts by CEA HQ » Want access to successful supplemental essay examples? We've got what you need. REAL COLLEGE ESSAY EXAMPLES »

Shirley Graham Du Bois Activist, Composer, Writer

Shirley Graham Du Bois is known for her  civil rights work and for her writings especially about African American and African historical figures. Her second husband was W.E.B. Du Bois. She became something of a pariah in American civil rights circles with her later association with communism, leading to much neglect of her role in black American history Early Years and First Marriage Shirley Graham was born in Indianapolis, Indiana, in 1896, daughter of a minister who held positions in Louisiana, Colorado and the state of Washington. She developed an interest in music, and often played piano and organ at her father’s churches. After she graduated from high school in 1914 in Spokane, she took business courses and worked in offices in Washington.   She also played organ in music theatres; the theatres were whites-only but she remained backstage. In 1921, she married and soon had two sons. The marriage ended – according to some accounts, she was widowed in 1924, though other sources have the marriage ending in divorce in 1929. Evolving Career Now a single mother of two young boys, she traveled with her parents to Paris in 1926 when her father was en route to a new job in Liberia as president of a college there. In Paris, she studied music, and when she came back to the states, she briefly attended Howard University to study music there.   From 1929 to 1931 she taught at Morgan College, then returned to her studies at Oberlin College. She graduated with a bachelor’s degree in 1934 and earned her master’s degree in 1935. She was hired by the Tennessee Agricultural and Industrial State College in Nashville to lead their fine arts department. After a year, she left to join a project of the Works Project Administration’s Federal Theatre Project, and served as director in 1936 to 1938 of the Chicago Negro Unit where she taught and directed plays. With a creative writing scholarship, she then began a Ph.D. program at Yale, writing plays that saw production, using that medium to explore racism.   She did not complete the program, and instead went to work for the YWCA.   First she directed theatre work in Indianapolis, then went to Arizona to supervise a theatre group sponsored by the YWCA and USO at a base with 30,000 black soldiers. Racial discrimination at the base led to Graham becoming involved in activism for civil rights, and she lost her job over that in 1942.   The next year, her son Robert died at an army recruiting station, receiving poor medical treatment, and that increased her commitment to work against discrimination. W.E.B. Du Bois Looking for some employment, she contacted civil rights leader W.E.B. Du Bois whom she’d met through her parents when she was in her twenties, and who was almost 29 years older than she was.   She had been corresponding with him for a few years, and hoped that he could help her find work.   She was hired as the NAACP field secretary in New York City in 1943.   She wrote magazine articles and biographies of black heroes to be read by young adults. W.E.B. Du Bois had married his first wife, Nina Gomer, in 1896, the same year Shirley Graham was born.   She died in 1950.   That year, Du Bois ran for Senator in New York on the American Labor Party ticket.   He had become an advocate of communism, believing it was better than capitalism for people of color globally, while recognizing that the Soviet Union also had faults.   But this was the era of McCarthyism, and government, beginning with the FBI keeping track of him in 1942, pursued him aggressively.   In 1950, Du Bois became chairman of an organization to oppose nuclear weapons, the Peace Information Center, which advocated for petitions to governments globally.   The U.S. Justice Department considered the PIC as an agent of a foreign state and when Du Bois and others refused to register the organization as such, the government filed charges.   W.E.B. Du Bois was indicted on February 9 as an unregistered foreign agent.   On February 14, he secretly married Shirl ey Graham, who took his name; as his wife, she could visit him in jail if he was jailed, though the government decided not to jail him.   On February 27, their marriage was repeated in a formal public ceremony.   The groom was 83 years old, the bride 55.   She had, at some point, begun giving an age about ten years younger than her real age;   her new husband talked of a marrying a second wife â€Å"forty years† younger than he was. Shirley Graham Du Bois’ son, David, became close to his stepfather, and eventually changed his last name to Du Bois and worked with him.   She continued to write, now under her new married name. Her husband had been prevented from attending a 1955 conference in Indonesia of 29 non-aligned nations that was the result of years of his own vision and efforts, but in 1958, his passport was restored.   The couple then traveled together, including to Russia and China. McCarthy Era and Exile When the U.S. upheld the McCarran Act in 1961, W.E.B. Du Bois formally and publicly joined the Communist Party as a protest. The year before, the couple had visited Ghana and Nigeria. In 1961, the government of Ghana invited W.E.B. Du Bois to head up a project to create an encyclopedia of the African diaspora, and Shirley and W.E.B. moved to Ghana.   In 1963, the United States refused to renew his passport; Shirley’s passport was also not renewed, and they were unwelcome in their home country.   W.E.B. Du Bois became a citizen of Ghana in protest.   Later that year, in August, he died in Accra in Ghana, and was buried there.   The day after his death, the 1963 March on Washington held a moment of silence in honor of Du Bois. Shirley Graham Du Bois, now widowed and without a U.S. passport, took a job as director of Ghana Television.   In 1967 she moved to Egypt.   The United State government permitted her to visit the U.S. in 1971 and 1975.   In 1973, she sold her husband’s papers to the University of Massachusetts to raise funds.   In 1976, diagnosed with breast cancer, she went to China for treatment, and died there in March of 1977. Background, Family: Mother: Etta BellFather: Rev. David A. Graham, minister in the African Methodist Episcopal churchSiblings: Education: Public schoolsBusiness schoolHoward University, musicOberlin College, A.B. in music, 1934, M.A. in 1935Yale Drama School 1938-1940, Ph.D. program, left before completing the degree Marriage, Children: Husband: Shadrach T. McCanns (married 1921; divorced in 1929 or widowed in 1924, sources differ).   Children: Robert, DavidHusband: W.E.B. Du Bois (married February 14, 1951, with a public ceremony February 27; widowed 1963). No children. Occupation:  writer, musical composer, activist  Dates:  November 11, 1896 – March 27, 1977Also known as:  Shirley Graham, Shirley McCanns, Lola Bell Graham

Writing For The World By Mary Pipher Essay - 1464 Words

All writing comes in many different styles and attracts a certain audience in which it strikes their minds and opens them up to a new world of thinking or looking at things. â€Å"Writing to Connect† by Mary Pipher tells about this concept and elaborates on it greatly to encourage aspiring writers who may be feeling discouraged. Writing to Connect is a chapter in Mary Pipher’s newest book Writing to Change the World, where she discusses the use of powerful writing, changing aspects of the way people view things, and inspiring others to share their own stories and never be afraid of what you feel needs to be shared. Pipher directs the chapter toward aspiring writers to tell her audience they should never give up and inspires them with the use of rhetorical choices. Specific rhetorical choices provide further support for Pipher’s purpose of writing the chapter, she effectively writes to show her audience it’s never wrong to write what they feel, and to take chances in their writing. In â€Å"Writing to Connect† by Mary Pipher, she urges aspiring writers to push past their comfort zone of writing with the use of identification, personal anecdotes, and historical texts/occasions to effectively persuade them to never give up on what they feel needs to be said through writing. Mary Pipher uses identification multiple times in her article to show the â€Å"common ground† she has with her audience. Pipher uses specific words and phrases to show her audience she knows how they’re feeling. SheShow MoreRelatedWriting For Change The World900 Words   |  4 PagesWriting is Stupid This is stupid! Why do we even have to write essays, what’s the point? How do I even start this? That is what my writing and thought process consist of. I complain and procrastinate until the last minute, that’s why this is being done the night before the due date. I’m just like many other students according to Gary Goshgarian introduction to Anne Lamott’s article, â€Å"Getting Started†, whose â€Å"biggest writing challenge is simply getting started† (Goshgarian, 94). Along with many ofRead MoreThe And Writing Of An Audience By Linda Flower, Getting Started By Anne Lamott914 Words   |  4 PagesChapter 2 defined three stages in the writing process which are Writing for an Audience by Linda Flower, Getting Started by Anne Lamott, and Writing to Change the World by Mary Pipher which are all important articles as narrated by each author. After I have read all these three steps, I chose getting started in writing as the most important stage and I will show you the readers how I came about this statement through Anne Lamott’s article. Lamott provided knowledge, references and experiencesRead MoreSummary Of Oh, For Craft s Sake !1056 Words   |  5 PagesImagine a world where the craft of writing did not exist, where each text had no white space, no syntax or meaning, no emotional connection to the reader--just random words. This project will put forth every effort to show the value of making tangible text from the conversion of imaginative concepts onto paper by the craft of a writer to make use of the written word. Ask any writer, agent or publisher, and they will most likely say the goal of writing is publication. That goal—writing for profit--isRead More Grapes of Wrath Essay: Steinbecks Powerful Style965 Words   |  4 Pageshelps get across the books message.    Early in the 1930s Steinbeck wrote, The trees and the muscled mountains are the world-but not the world apart from man-the world and man-the one inseparable unit man and his environment. Why they should ever have been understood as being separate I do not know.   Steinbeck strove to reconnect them, and it shows in his writing.   Intermixed with the plot are corollary chapters.   The purpose of the corollary chapters is to put the events of the story inRead More Hamlet - Shakespeares Ophelia as Modern Icon Essay3388 Words   |  14 Pagesby Mary Pipher in her book Reviving Ophelia. As an adolescent therapist Pipher has seen firsthand how young women today shadow many of the problems Ophelia had. Pipher states that Ophelias story shows the destructive forces that affect young women. As a girl, Ophelia is happy and free, but with adolescence she loses herself. She has no inner direction; rather she struggles to meet the demands of Hamlet and her father. Her value is driven utterl y by their approval. (Pipher 20) Later, Pipher concludesRead More Depressed Teenagers in Today’s Society Essay2450 Words   |  10 PagesDepressed Teenagers in Today’s Society Being depressed includes many feelings, and they can range from simply being fed up with the world to actually wanting to take one’s own life. I have been depressed before, but I have never wanted to commit suicide. I want to know why teenagers would become so depressed that they would even consider taking their lives. I want to answer the commonly asked questions about teenage depression. Why are teenagers today so depressed? Why do they feel likeRead MoreGender Inequity in Education Essay4136 Words   |  17 Pagescontinue their biased ways, detracting from a learning environment that encourages all students to reach their highest level of performance. The purpose of an education is to empower individuals with the tools necessary to flourish in an ever-changing world, to allow them to dream and to enable them to accomplish their goals in life. As things stand now, females, a group constituting approximately half of our nation, are unable to achieve such ends because the educational system puts them at a disadvantageRead MoreReflection Paper On Storytelling1696 Words   |  7 Pagesoutsmarting the bad guys like Sherlock Holmes and Watson or Nancy Drew. Or perhaps you think of that lecture in your high school or college history class when your professor showed you a documentary or a movie that introduced you to a part of the world, group of people, or a movement like The Black Power Mixtape 1967-1975 or Rob Marshall’s adaptation of Arthur Golden’s Memoirs of a Geisha that left you with a hunger to know more, to understand more than you had at the beginning of the class. WhateverRead More Brief Biography of John Steinbe ck Essay3594 Words   |  15 PagesLong Valley and the last part of The Red Pony. His big project for the year, however, was working and researching a great novel, to be published in 1939 under the title The Grapes of Wrath. With this book, Steinbeck insured his future in the literary world. The book was so controversial that Steinbeck had to worry about attempts on his life or reputation; even now, it (along with Of Mice and Men) often are found on lists of commonly banned books. It was so well thought of that it earned him a PulitzerRead More Revolution Girl-style Now! Essay2965 Words   |  12 Pagesmovement originally based in a consciousness about youth and oppression. With the rallying cry, †Revolution Girl-Style Now!† bands like Bikini Kill formed a small movement to combat the male dominance of the Punk Scene and, by extension, the rest of the world. Inevitably, Riot Grrrl was born: So theres this revolution happening all across the country and all across other countries and its the revolution girl style and as a girl revolutionary I want to say something about it... ...This revolution is

Ford Motor Company through the Ages - 3199 Words

The Ford Motor Company (FMC) was founded in Detroit in 1903 and began shortly thereafter exporting cars to European branches. Cross-border assembly started in Canada in 1904 and was later implemented in the European markets. The first European plant was established in 1911 in England, and this was followed with other lower volume assembly plants across the European continent. All the plants and branches assembled and sold the Model T, using American methods and practices. This proved to be a success in the beginning, but in the long run, â€Å"(†¦) this proved a costly and unsuccessful strategy in Europe’s diverse markets† (Bonin et al., p. 15). By the late 1920s most of its European subsidiaries were struggling and Ford had to change his†¦show more content†¦Ã¢â‚¬Å"Ford chose to have its first dealer in Stolp, a rural city, far from major city centres, in the former Prussian province of Pommern (today Poland).† (v2 152-153). This area was economica lly, socially, and geographically comparable to areas in the United States where the Model T sold very well. Rural areas with large farms, whose owners had money at their disposal, and needed means of transportation since they were isolated from the cities, characterized the region. â€Å"However, at the time the car was not really faster or more comfortable than a traditional horse coach. The automobile was more of an instrument of social distinction.† (v2 153). Ford expanded its operations in Germany in 1905 and created a showroom in Berlin to advertise its brand and later opened an office in 1911. In 1912 Ford built a distribution center in Hamburg because of its attractive harbor and its ideal location for cross-boarder distribution in Europe. This rapid expansion since 1905 ended in 1914, when the First World War started. When Ford first advertised the Model T in Germany, it was described as â€Å"good value for money and durable† (v2, p. 153). In the beginning, h owever, the cars were rather unreliable and this created an image problem and Ford needed to change its direction and advertisement in order to satisfy costumer expectations and needs. â€Å"By the 1910s, Ford automobiles represented good value forShow MoreRelatedFord Motor Company : History1652 Words   |  7 PagesFord Motor Company is a name commonly known throughout the United States. Henry Ford started the Ford Motor Company along with a couple other investors (â€Å"Our History†). Ford has made many changes over the years as well as changed America view on vehicles. Ford Motor Company is a largely iconic part of America and its history. Ford is uniquely American because the history began on American soil, the way the company gives back to its community, and the new jobs for people of the United States. HenryRead MoreThe Legacy Of The Ford Motor Company1023 Words   |  5 PagesOn June 17, 1903 the Ford Motor Company was organized. The date is the day the deal started for Henry Ford not because the company had his name, the day all his hard work would start to payoff. To look at the deal from just one day would not do justice to the brilliant way and intertwined ways Henry Ford took the world by storm. From the start in Ford’s garage to the offices of lawyers, and then on to control of the largest automotive companies in the world one can see the deal was just a key toRead MoreThe Ford Motor Company Success Essay1305 Words   |  6 Pagesthe town of Dearborn Michigan, the Ford Motor Company was founded by Henry Ford. Five years after Henry Ford founded Ford Motor Company he introduced the world-famous Model T. The Model T had huge success, and the demand was in no short supply. The Model T was the first automobile that gave the consumers what they wanted, at a price they c ould afford. In 1908 the building time was over twelve hours per model T produced. Twelve hours was not practical, so Henry Ford created the moving assembly lineRead MoreFiat Chrysler Automobiles ( Fca ) Lost Focus On The Production Of Their Mid Size Sedans1388 Words   |  6 Pagesplace as a highly profitable vehicle for the company. This in turn led to the closing down of the plant in Sterling Heights which caused a large number of Michiganders to be in chaos concerning the future of their employment. Ford Motor Company however would be the best company for them to model themselves after when it comes to the creativity and selling of mid-size sedans. The Ford Fusion alone offers 12 models starting at $22,120 and closing at $41,120. Ford focuses on customer satisfaction and byRead MoreFord Motor Company Influences The 21st Century1062 Words   |  5 Pages The Ford Motor Company Influences the 21st Century A man that went by the name of Henry Ford, once said, â€Å"I invented nothing new. I simply assembled the discoveries of other men behind whom were centuries of work†¦Ã¢â‚¬  The Ford Motor Company is an American continental automobile maker founded by Henry Ford on June 16, 1903. During the 1920s, this firm marketed automobiles that were reliable, low-cost, easy-to-operate and easier-to-fix device for the masses (Rise of the Automobile). In addition, theRead MoreHenry Ford And The American Civil War1194 Words   |  5 PagesHenry Ford had only a modest education. He didn’t invent the gasoline engine; he didn’t invent the auto mobile; he didn’t really invent anything. Yet, when he died in 1947, Ford, and the company he founded had a profound effect on the world he taught to drive. Given all that he had accomplished, it’s hard to believe Henry Ford was almost 40 when he established the Ford Motor Company. At the time America was more agricultural t han industrial. Horse-less carriages were toys for a wealthy few. ButRead MoreAnalysis Of Ford s Board Of Directors Essay1680 Words   |  7 PagesChairman William Clay Ford Jr.(age 58). He is the great-grandson of Henry Ford Sr. After earning his BA from Princeton University, he began a lifetime of service in the family firm (1979), culminating in his appointment as president and CEO in 2001. As CEO, Mr. Ford improved quality, lowered costs and delivered exciting new products. During his time in that position, he took the company from a $5.5 billion loss in 2001 to three straight years of profitability. On September 5, 2006, Ford announced thatRead MoreAnalysis of Ford Motor Company Essay1056 Words   |  5 PagesAnalysis of Ford Motor Company External Factors and Economic Environment 1) Market and Customers Between 22% and 23% (average over past five years) of Ford’s customers are defined as fleet customers as described above. The residual 77%to 78% of customers are private individuals who purchase Ford vehicles through licensed dealers. Ford customers come from all demographic strata given the diverse brand lineup and product mix, and Ford’s products are purchased and driven the world over. ArgusRead MoreThe Invention Of The Ford Motor Company1279 Words   |  6 Pagesincome for Americans meant that they were able to afford more appliances like a toaster or a car. Prices dropped with industrial innovations like the moving assembly line. With these new prices, people could buy more per dollar. Henry Ford’s, The Ford Motor Company is an example of a business that prospered in the 1920s. The innovation of Ford’s Model T allowed many Americans to explore the country and experience being on the road. Along with these new products and appliances, businesses made a new formRead MoreCase Study : Ford Truck Marketing Strategy1650 Words   |  7 PagesF150 Ford Truck Marketing Strategy Rugged, stylish, comfortable, economic, and most of all, dependable. The Ford F-150 is the pickup truck that changed the nation. From its very beginning, the Ford truck has taken care of its owner’s necessities from hauling hay to visiting family and friends. Since its inception, the Ford Motor Company (FMC) has earned the loyalty of its customers. Most of all, the ford pickup truck has earned the respect of farmers, families, and businessmen alike. How did the

Auditing and Assurance Analytical Procedures

Question: Describe about the Auditing and Assurance for Analytical Procedures. Answer: Part 1 Analytical Procedures Analytical procedures are the assessment of financial information of the organizations through relevant relationships between the elements of financial and non- financial information. In order to analyze the performance of the company and evaluate the financial position that helps in taking business decisions. Various financial ratios can be used to understand the business information of the company related to the income statement and financial statement (Cao, Chychyla Stewart, 2015). In order to understand the given financial statement of the client company financial ratios on income statement and balance sheet have been evaluated for the year ended 31 March 2016. Analytical procedures related to the financial performance year 2016 Financial Ratio Calculation Formula Ratio Profit margin ratio (year 2016) Net income/ Net sales $183,000,000-135,000,000/183,000,000= 26.23% Profit margin ratio (year 2015) Net income/ Net sales $83,000,000-55,000,000/83,000,000= 33.73% Profit margin ratio (year 2014) Net income/ Net sales $88,000,000-59,000,000/88,000,000= 33.00% Return on shareholder's equity (year 2016) Net income for the year/ average shareholders' equity $48,000,000/130,000,000= 36.92% Return on shareholder's equity (year 2015) Net income for the year/ average shareholders' equity $28,000,000/75,000,000= 37.33% Return on shareholder's equity (year 2014) Net income for the year/ average shareholders' equity $29,000,000/75,000,000= 38.67% Analytical procedures related to the financial position, year 2016 Financial Ratio Calculation Formula Ratio Working Capital (year 2016) Current assets- current liabilities $222,170,000-153,000,000 = $69,170,000 Working Capital (year 2015) Current assets- current liabilities $108,550,000-125,800,000 = $(17,250,000) Working Capital (year 2014) Current assets- current liabilities $164,900,000-119,500,000 = $45,400,000 Current ratio (year 2016) Current assets/ Current Liabilities $222,170,000/ 153,000,000 = 1.45 Current ratio (year 2015) Current assets/ Current Liabilities $108,550,000/ 125,800,000 = 0.86 Current ratio (year 2014) Current assets/ Current Liabilities $164,900,000/ 153,000,000 = 1.07 Inventory turnover ratio (year 2016) cost of goods sold for the year/ Average inventory for the year $135,000,000/ 148,670,000 = 0.91 Inventory turnover ratio (year 2015) cost of goods sold for the year/ Average inventory for the year $55,000,000/ 79,000,000 = 0.70 Inventory turnover ratio (year 2014) cost of goods sold for the year/ Average inventory for the year $59,000,000/ 93,000,000 = 0.63 One of the essential analytical procedures to evaluate the companys financial performance during the year is profit margin ratio that is considered after tax and other business expenses. In case of Client Company, net profit margin for the year ended 31 March 2016 is 26.23% that means the company is earning profit on sales 26.23% after deducting all other expenses. However, in the present case, data of other expenses including tax expenses have not been provided. Therefore, it is assumed that the profit margin is considered after tax and other expenses. Since, the companys profit percentage is 26%, it can be said that the organization is highly efficient and strong in business operation. Another important procedure for evaluating the companys performance is return on shareholders equity, computed by considering net income and shareholder equity capital (Alles, 2015). Since, the companys return on shareholder's equity in the year 2016 is around 37%, it can be said that the company is highly efficient in providing return to its investors. On the other hand, company working capital expresses the ability to pay off the current obligations like loan payments, bills etc. As the company has working capital amounted to $69,170,000 in 2016 the company is capable to pay off the short-term obligations. However, the companys current ratio is 1.45, which is less than 2 hence, it can be said that the entity is required to improve its current ratio to meet the current liability obligations. Moreover, the inventory turnover ratio is also less than 1 that means the company is not efficient in rolling its cash balance by selling off the inventories. Summary of financial information analysis During the year 2016, the performance of the company was quite efficient but the ratio between current asset and current should be improved since it is less than 2. Additionally, the inventory turnover ratio is less than 1, which states that the company should improve its marketing structure by selling more inventories. Although the efficiency of company to generate returns for investors is good yet its financial position need to be improved. In the financial year 2015, the company has current liabilities more than current assets therefore the company was not efficient in paying off the obligations. Additionally, in the year 2016 the company gained the current ratio to 1.45 that means the company maintained the efficiency as in the year 2014. Balance in reserves in the year 2016 increased by almost 50% that that in the year 2015, which implies that the company has investment, plans that requires sufficient fund. Therefore, the company is focusing on retention of profits earned during the year to improve expand the business operation. Benchmarking Benchmarking is a procedure conducted by the organizational management to examine and analyze the best practices in the business activities within the industry. In the perspective of auditing, benchmarking is a process to examine the policies and practices conducting by the organizations with true and fair view (Mohamed, 2015). Auditing is the process of examining the financial statements of the company to check its transparency and fair presentation and disclosure of financial information. On the contrary, benchmarking is considered to examine the best practices for business sustainability, corporate governance and preparation and business operating activities (Juan-Borrs et al., 2015). In case of Client Company, the profitability ratio and return on shareholders equity are high whereas the current ratio and inventory turnover ratio are lower than the required standard ratio. Considering the results of current ratio 1.45 and inventory turnover ratio 0.91 calculated in the above part, it has been noted that the verification of inventory should be carried on to check its correct disclosure in the reports. Benchmarking in this respect should be analyzing the correctness of the valuation and disclosure of inventory for the year 2016 as it increased by around 46% from that of the year 2015. Part 2 Introduction Analytical procedures as a part of auditing process help the auditors to understand the companys business functions as well as identifying the potential risks. It assists the auditors to plan the other auditing procedures to examine and verify the business activities and financial information to detect the transparency and accountability (Lau Ooi, 2016). Discussion Risk analysis stage: For conducting the procedures of auditing, analytical procedures serves essential evidence, that includes the assessment of recorded financial information. The analysis of financial statement components is carried on by studying the current years and previous years financial data. While considering the analytical procedures in auditing the auditor can incorporate three types at three different stages, which are preliminary, substantive and final stage (Kim et al., 2016). Analytical procedures are conducted by determining the relationships among different elements of accounting balances in the form of ratio analysis and trend analysis. Draft account: At the preliminary stage analytical procedure is carried on by auditors to examine the accounting balances for purchases, sales, production costs, accounts receivables, payables and other relevant balances to verify the performance of the company (LeBaron Lister, 2015). It is the responsibility of the auditor to test the accounting balances and reported financial information of the client companies to evaluate the correct valuation. In case there is any discrepancy in the initial recording of the transactions, the same would affect the entire financial statement of the companies. Therefore, it is important to review the initial records of the transactions so that the effect of the same can be easily detected in the financial statements of the company (Oktorina Wedari, 2015). At the next stage, the auditor can perform analytical procedures by conducting sampling test or test checking by randomly selecting the account balances if there are large numbers of transactions . Final account: In order to check the correctness of the increase or decrease in the recorded transactions of the financial information, the auditor is required to conduct the ratio analysis and trend analysis different related components (Bills Cunningham, 2015). Such analysis is also computed to determine the relationship between the business activities as well as the efficiency of the companies to meet the obligation towards stakeholders. Apart from the analysis of financial information, analytical procedures are conducted to evaluate the non-financial data as well. Reports on business sustainability, corporate governance presentation of financial information according to the accounting principles and standards are examined through analytical procedures (Gros, Koch Wallek, 2016). Conclusion Analytical procedures are not only used to examine the correctness of the financial information but it is used through the entire audit process. The use of analytical procedures assists the auditors to plan the nature, timing and extent of other audit process. It helps the auditors to examine the appropriate use of accounting standards, principles and valuation methods that identifies the transparency of the statement of income and statement of financial position. Similarly, auditors carry substantive analytical procedures to generate the required evidence in the accounting reports if there are any possible frauds, errors or misrepresentations. It is significant to present the correct report on test checking about the companys performance during the year for the benefit and interest of investors and other users of companies annual reports. Reference List Alles, M. G. (2015). Drivers of the Use and Facilitators and Obstacles of the Evolution of Big Data by the Audit Profession.Accounting Horizons,29(2), 439-449. Bills, K. L., Cunningham, L. M. (2015). How Small Audit Firm Membership in Associations, Networks, and Alliances Can Impact Audit Quality and Audit Fees.Current Issues in Auditing,9(2), P29-P35. Cao, M., Chychyla, R., Stewart, T. (2015). Big Data analytics in financial statement audits.Accounting Horizons,29(2), 423-429. Gros, M., Koch, S., Wallek, C. (2016). Internal audit function quality and financial reporting: results of a survey on German listed companies.Journal of Management Governance, 1-39. Juan-Borrs, M., Periche, A., Domenech, E., Escriche, I. (2015). Routine quality control in honey packaging companies as a key to guarantee consumer safety. The case of the presence of sulfonamides analyzed with LC-MS-MS.Food Control,50, 243-249. Kim, J. B., Li, L., Lu, L. Y., Yu, Y. (2016). Financial statement comparability and expected crash risk.Journal of Accounting and Economics,61(2), 294-312. Lau, C. K., Ooi, K. W. (2016). A case study on fraudulent financial reporting: evidence from Malaysia.Accounting Research Journal,29(1). LeBaron, G., Lister, J. (2015). Benchmarking global supply chains: the power of the ethical auditregime.Review of International Studies,41(05), 905-924. Mohamed, H. M. (2015). Green, environment-friendly, analytical tools give insights in pharmaceuticals and cosmetics analysis.TrAC Trends in Analytical Chemistry,66, 176-192. Oktorina, M., Wedari, L. K. (2015). An Empirical Investigation on Ownership Characteristics, Activities of the Audit Committee, and Audit Fees in Companies Listed on Indonesia Stock Exchange.Applied Finance and Accounting,1(1), 20-29.