Archive for September, 2009

Finance Analysis of Merck

September 29th, 2009 No comments

The nature of financial analysis for a given company or industry has changed dramatically in the last few years. Due to both the exponentially increasing dynamic nature of business, as well as the greatly enhanced ability to gather a wealth of information, making decisions on the viability and stability of a company or industry has grown increasingly complex. One method in determining the overall health of a business is the use of financial ratio analysis. Comparing various facets of a company’s financial performance through its ratios, especially when also comparing these same ratios for peer companies as well as the industry as a whole, can be a useful starting point for any investor. In this paper, we attempt to provide cursory information regarding the financial performance for Merck & Co., a major pharmaceutical provider, through a few ratios computed from the company’s recent financial reports. We also compare Merck with two similar companies in the major drug industry, as well as the industry itself. Using these ratios, it would seem that Merck is slightly under performing in the pharmaceutical industry. Read more…

ACS State and Local Solutions

September 9th, 2009 No comments

The objective of the research paper is to present ACS State and Local Solutions as an organization that can benefit from a change readiness assessment. The twenty first century points to a constant change, rapid growth, and to try to get as much business as possible, however constant search for more capital weakens and strengthens different areas of the organization.

Weisbord proposes his Six-Box model as a diagnostic framework for organizations. He expresses that a blip in any one box cannot be managed independently of its relationship to other boxes. However, six potential starting places give you alternatives when choosing an improvement strategy (Weisbord 1978).

Let us analyze the purpose of the organization. What business is ACS State and Local Solutions in? The organization is in the business of helping people to achieve self-sufficiency, and to process childcare checks on a timely manner to ensure a better quality life for children. Both contracts are with Miami Dade County, the first is twelve million dollars with one hundred forty five employees and the latter is a sixty five million dollars and a staff of forty-five. Read more…

Islamic Finance Essay

September 3rd, 2009 No comments

Islamic financial institutions now operate in over 75 countries. Their assets have increased more than 40-fold since 1982 to exceed $230 billion.

The first Islamic banks were created in the 1970s, at the time when the “aggiornamento” of Islamic doctrine on banking matters was taking shape. At the time, Islamic banks were typically commercial banks operating on an interest-free basis. Today, as a consequence of broad changes in the political-economic environment a new generation of Islamic financial institutions, more diverse and innovative, is emerging as the doctrine is undergoing a new aggiornamento.

Perhaps the most important development has been the growing integration of Islamic finance into the global economy. There is now a Dow Jones Islamic Market Index, which tracks 600 companies (from inside and outside the Muslim world) whose products and services don’t violate Islamic law. Foreign institutions such as Citibank have established Islamic banking subsidiaries, and many conventional banks– in the Muslim world but also in the United States and Europe–are now offering “Islamic products” that are sometimes aimed at non-Muslims.

Islamic finance is thus in many ways well suited to the global economy. Read more…

Essay on Financial Managers

September 1st, 2009 No comments

The role of the financial manager is very crucial to an organization. They hold the most important ingredient of a company in the palm of their hands, management of cash flow of a company. Since financial managers can be found in almost every organization, it is important to understand their role in an organization. In this paper I will examine the role of the financial manager. I will further compare and contrast these roles with that of an accountant.

Financial Managers
Our University of Phoenix e-text states, “Financial managers stand between the firm’s real assets and the financial markets in which the firm raises cash” (p. 8). They are ultimately responsible for overseeing the flow of cash between investors and the firm. Financial managers view the firm on a more global level. They are faced with managing the firm’s investments and how the funds are raised for these investments. Read more…