Bibliography, Reference List or Works Cited

You may wonder whether to use a bibliography, reference list, or a works-cited page in your paper--and you may even have wondered whether there is really a difference. Although your professor may have his or her own ideas (and you should use your professors preferences as your first guide) Works Cited pages are generally used when citing sources in an MLA paper, though you may call it a Works Consulted list if you are required to name the things you cited and the sources you used as background information. You should use the References title of your source list when using APA (American Psychological Association) style. Turabian/Chicago style traditionally calls for a bibliography, though some professors ask for a works-cited page. The term bibliography can mean a few things. In a single paper, it is all of the sources you have consulted to become informed about your topic (in contrast to listing only the sources you actually cite). As a generic term, bibliography can also refer to a very big list of recommended sources on a particular topic. Bibliographies might even be required as an additional page of information, after the reference list.

Financial statement analysis of british airways and emirates - Free Essay Example

Sample details Pages: 7 Words: 2128 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? British Airways plc (BA) is the flag carrier airline of the United Kingdom. BA has its headquarters in Waterside near its main hub at London Heathrow Airport and based on fleet size, international flights and international destinations is the largest airline in the UK. Its second hub is London Gatwick Airport. British Airways has discontinued all direct overseas flights from UK airports other than Heathrow, Gatwick and London City Airport. BAs UK passengers originating at non-London airports must now connect via London or use other airlines with direct services. The British Airways Board was established in 1971 to control the two nationalized airline corporations, BOAC and BEA, and two much smaller regional airlines, Cambrian Airways from Cardiff and Northeast Airlines from Newcastle upon Tyne. On 31 March 1974 all four companies were dissolved to form British Airways (BA). After almost 13 years as a nationalized company, British Airways was privatized in February 1987 as part of the privatization plan by the Conservative Government of the time. The carrier soon expanded with the acquisition of British Caledonian (BCAL) in 1987 and Gatwick-based carrier Dan-Air in 1992. Don’t waste time! Our writers will create an original "Financial statement analysis of british airways and emirates" essay for you Create order Despite being a primarily Boeing customer, British Airways placed a major order for Airbus aircraft in August 1998 with the purchase of 59 Airbus A320 family aircraft. In 2007, the carrier placed its next major order, marking the start of its long-haul fleet replacement, ordering 12 Airbus A380s and 24 Boeing 787s. The centre piece of the airlines long-haul fleet is the Boeing 747-400; with 57 examples in service, British Airways is the largest operator of the type in the world. The formation of Richard Bransons Virgin Atlantic Airways in 1984 began a tense relationship with BA. In 1993, the fierce rivalry led to British Airways apologizing unreservedly for a dirty tricks campaign against Virgin leading to them paying damages and legal costs after one of the most bitter and protracted libel actions in aviation history. Until 2008, British Airways was the largest airline based in the UK in terms of passenger numbers. The airline carried 34.6 million passengers in 2008 but rival UK low-cost carrier easy Jet carried 44.5 million passengers in the same year, taking the title from British Airways. On 12 November 2009, British Airways confirmed that it had reached a preliminary agreement to merge with Iberia. The merger between the two carriers will create the worlds third-largest airline in terms of annual revenue and the second largest airline group in Europe. The merger was confirmed on 8 April 2010, and it is expected to be completed by the end of the year. On 14 July 2010, the European Commission gave the two carriers permission to merge and also agreed to allow American Airlines to co-operate with the merged entity on transatlantic routes to the United States of America. (Wikipedia, 2010) C:Documents and SettingsMidhunDesktopEmirates_Logo1.jpg Emirates Airline is the largest major airline in the Middle East. It is the national airline of Dubai, United Arab Emirates and operates over 2400 passenger flights per week, from its hub at Dubai International Airport Terminal 3, to 108 destinations in 60 countries across 6 continents. The company also operates four of the worlds longest non-stop commercial flights from Dubai to Los Angeles, San Francisco, So Paulo and Houston, with all except San Francisco on the Boeing 777-200LR. The flight to San Francisco is currently served by a Boeing 777-300ER. Emirates is a subsidiary of The Emirates Group, which has over 50,000 employees, and is wholly-owned by the Government of Dubai directly under the Investment Corporation of Dubai. Cargo activities are undertaken by the Emirates Groups Emirates SkyCargo division. During the mid-1980s, Gulf Air began to cut back its services to Dubai. As a result Emirates was conceived in March 1985 with backing from Dubais royal family, whos Dubai Royal Air Wing provided two of the airlines first aircraft. It was required to operate independent of government subsidies, apart from $10 million in start-up capital. The airline became headed by Ahmed bin Saeed Al Maktoum, the airlines present chairman. In the years following its founding, the airline expanded both its fleet and its destinations. In October 2008, Emirates moved all operations at Dubai International Airport to Terminal 3, a new terminal exclusively dedicated to Emirates to sustain its rapid expansion and growth plans. Emirates operate a mixed fleet of Airbus and Boeing wide-body aircraft and are one of only nine airlines to operate an all wide-body aircraft fleet. The centerpiece of the airlines fleet is the Boeing 777. Emirates also have orders for 90 Airbus A380s with 11 of them already in service and became the second operator of the Airbus A380-800 after Singapore Airlines when their first aircraft was delivered on 28 July 2008. Emirates have won numerous awards and are an industry bellwether for aircraft purchases, purchasing over 130 aircraft in 2007 alone. The airline ranks amongst the top 10 carriers worldwide in terms of revenue, passenger kilometers, and has become the largest airline in the Middle East in terms of revenue, fleet size, and passengers carried as of 2007. In 2010 the airline was the sixth-largest airline in the world in terms of international passengers carried and largest in the world in terms of scheduled international passenger-kilometers flown. The airline was also the seventh largest in terms of scheduled freight tone kilometers flown. Emirates have built up a strong brand name as a trendsetter in the aviation industry, particularly in terms of service excellence, coupled with consistent profitability. In 2010, Emirates was voted the eighth best airline in the world by research consultancy firm Skytrax. (Wikipedia, 2010) Particulars Emirates (2009-2010) British Airways (2009-2010) Increase or Decrease Percentage (%) Non Current Assets Property, plant and equipment 33753 6633 27120 80.34841347 Intangible Assets 927 190 737 79.50377562 Investments in subsidiaries 461 2368 -1907 -413.6659436 Available for sale financial Assets 21 -21 0 Advance lease rentals 233 93 140 60.08583691 Loans and other receivables 1432 483 949 66.27094972 Derivative financial instruments 64 27 37 57.8125 Current Assets ÂÂ   ÂÂ   Inventories 1084 97 987 91.05166052 Trade receivables 7008 468 6540 93.32191781 Held to maturity financial assets 376 -376 0 Derivative financial instruments 74 74 0 0 Short term bank deposits 1176 908 268 22.78911565 Cash and cash equivalents 9335 756 8579 91.90144617 Equity and Liabilities Capital 801 288 513 64.04494382 Other Reserves -321 273 -594 185.046729 Share Premium 19794 937 18857 95.2662423 Non Current Liabilities Interest bearing long term borrowing 16753 3698 13055 77.92634155 Provisions 364 720 -356 -97.8021978 Deferred income tax liability 4 720 -716 -17900 Current Liabilities Trade and other payables 21 141 -120 -571.4285714 Derivative financial instruments 467 5 462 98.92933619 Deferred revenue 1483 200 1283 86.51382333 Deferred credit 460 194 266 57.82608696 Trade and other payables 15475 5256 10219 66.0355412 Income tax liabilities 19 5 14 73.68421053 Borrowing and lease liabilities 2852 257 2595 90.9887798 Derivative financial instruments 12 13 -1 -8.333333333 CURRENT RATIO Current Ratio = Current Assets / Current Liabilities Particulars Emirates British Airways Current Assets 18677 2674 Current Liabilities 18520 3740 Current Ratio 1.1:1 0.7:1 GRAPH SHOWING CURRENT RATIO FOR THE YEAR 2009-2010 INTERPRETATION: Current Ratio of both Emirates and British Airways is not ideal. For both the companies, the current assets position should be improved and it should be ideally two times its current liabilities. This situation will be very uncomfortable for the creditors. Both Emirates and British Airways must improve the current ratio to maintain a balance between liquidity and profitability. 2. QUICK RATIO Quick Ratio = Quick Assets / Quick Liabilities Particulars Quick Assets Quick Liabilities Quick Ratio Emirates 17593 18520 0.9:1 British Airways 2576 3740 0.7:1 GRAPH SHOWING QUICK RATIO FOR THE YEAR 2009-2010 INTERPRETATION: Quick ratio for both Emirates and British Airways just fall short of the standard ratio, i.e. 1:1. Both the companies must improve its liquidity which will satisfy its creditors. 3. ABSOLUTE LIQUID RATIO Absolute Liquid Ratio = Absolute Liquid Assets / Current Liabilities Particulars Absolute Liquid Assets Current Liabilities Absolute Liquid Ratio Emirates 10511 18520 0.6:1 British Airways 1714 3740 0.5:1 GRAPH SHOWING ABSOLUTE LIQUID RATIO FOR THE YEAR 2009-2010 INTERPRETATION: The standard Absolute Liquid Ratio is 1:2 or 0.5:1. The Absolute Liquid Ratio for Emirates is 0.6:1 and that of British Airways is 0.5:1. This is considered to be quite satisfactory and up to the norm. This shows the short term financial position is just not satisfactory in term of absolute liquid assets. 4. NET PROFIT/LOSS RATIO Net Profit/Loss Ratio =Net Profit or loss / Net sales*100 Particulars Net Profit/Loss Net Sales Net Profit/Loss Ratio (%) Emirates 3538 42477 8.33 British Airways (425) 7994 (5.31) GRAPH SHOWING NET PROFIT/LOSS RATIO FOR THE YEAR 2009-2010 INTERPRETATION: Net Profit/Loss Ratio shows the operational efficiency of the business. The Net Profit Ratio of Emirates is 8.33% showing a better performance when compared to British Airways which incurred a loss indicating the managerial inefficiency and excessive selling and distribution expenses. 5. RETURN ON INVESTMENT(ROI) RATIO Return on Investment Ratio = (Net Profit before interest and tax / capital employed)*100 Particulars Net Profit before interest and tax Capital Employed (Net Fixed Asset + Working Capital) ROI Ratio Emirates 3565 34837 10.23 % British Airways -231 6107 -0.03 % GRAPH SHOWING RETURN ON INVESTMENT RATIO FOR THE YEAR 2009-2010 INTERPRETATION: This ratio measures the operational efficiency and borrowing policy of the enterprise. The ROI of Emirates (10.23%) shows that the capital employed is used quite efficiently and indicates the earning capacity of the net assets of the business is satisfactory whereas ROI of British Airways is very much below par incurring a loss at 0.03% indicating the ineffective use of capital employed. 6. WORKING CAPITAL TURNOVER RATIO Working Capital Turnover Ratio = Net sales /Working Capital Particulars Net Sales Working Capital Working Capital Turnover Ratio (times) Emirates 42477 157 270.55 British Airways 7994 -1066 0.20 GRAPH SHOWING WORKING CAPITAL TURNOVER RATIO FOR THE YEAR 2009-2010 INTERPRETATION: This ratio shows the number of times the working capital results in sales. It reflects the efficiency in the utilization of working capital. The Working Capital Turnover Ratio of Emirates is very abnormal showing that 270.55 times working capital results in sales. Excessive ratio shows overtrading which indicates the weakness of enterprise. But the Working Capital Turnover Ratio of British Airways is 7.50 times showing a satisfactory situation which reflects its efficiency in the utilization of working capital. 7. PROPRIETORY RATIO Proprietory Ratio = Net Worth/Total Assets PARTICULARS NET WORTH TOTAL ASSETS PROPRIETORY RATIO (times) Emirates 17475 55547 0.31 British Airways 2113 10677 0.20 GRAPH SHOWING PROPRIETORY RATIO FOR THE YEAR 2009-2010 INTERPRETATION: It indicates the relationship between proprietors funds and total assets. It shows the general financial position of the company. 50 % or 0.5 times is said to be satisfactory proprietory ratio for the creditors. But in the case of Emirates, the proprietory ratio is 0.31 and for British Airways it is 0.20 times which are below the norm, indicating that their loans are not secured which is a sign of risk for creditors. 8. CURRENT ASSETS TURNOVER RATIO Current Assets Turnover Ratio = Net sales /Current Assets Particulars Net Sales Current Assets Current Assets Turnover Ratio (times) Emirates 42477 18677 2.27 British Airways 7994 2674 2.99 GRAPH SHOWING CURRENT ASSET TURNOVER RATIO FOR THE YEAR 2009-2010 INTERPRETATION: This ratio establishes the relationship between Current Assets and Net Sales. The Current Asset Turnover Ratio of Emirates is 2.27 and of British Airways is 2.99 times which is quite satisfactory reflecting the efficiency in the utilization of Working Capital. 9. FIXED ASSETS TURNOVER RATIO Fixed Assets Turnover Ratio = Net sales /Fixed Assets Particulars Net Sales Fixed Assets Fixed Assets Turnover Ratio (times) Emirates 42477 34680 1.22 British Airways 7994 7173 1.11 GRAPH SHOWING FIXED ASSET TURNOVER RATIO FOR THE YEAR 2009-2010 INTERPRETATION: The effective utilization of fixed assets will result in increased production and reduced cost. It also ensures whether investment in assets have been judicious or not. In the case of both Emirates and British Airways having a Fixed Assets Turnover Ratio of 1.22 and 1.11 is not very satisfactory. It indicates that the firms have not been able to utilize its fixed assets judiciously. SUMMARY AND FINDINGS After the detailed analysis of the financial statements of Emirates and British Airways for the period from 2009-2010 by financial analysis, it is found that The decision with regarding to working capital is arrived at by taking into consideration number of factors like nature of business, manufacturing cycle, and credit policy and collection procedure. It is evidentiary through the financial analysis that the current ratio of both Emirates and British Airways is not in favor of both the companies. It is still not beyond the ideal ratio stating that the short term financial position of these companies is not very sound. It has been found out that in the financial year 2009-2010, British Airways has incurred loss probably due to managerial inefficiency and excessive selling and distribution expenses. The company has significant burden of depreciation and amortization which is a major driver of these losses. The shareholders funds for both the companies have been raised for the year 2010. CONCLUSION Finance is of vital importance for every organizations success. Finance is the life blood of the business. Working Capital management is regarded as an important subject of financial management. Working capital management is an integral part of over all corporate management. The twin objectives of the working capital management are profitability and liquidity. Working capital management establishes the best possible trade off between the profitability of net current assets employed and the ability to pay current liabilities as they fall due. From the data analysis, it is found that the performance of Emirates is satisfactory due to the internal and external factors. From the various techniques it is found that the companys management is quite effective when compared o British Airways. From the above analysis, it is clear that Emirates is an effective fast growing high profit seeking company whereas British Airways is undergoing a difficult financial period.

Consequential Validity Of An Alternate Assessment For Students Free Essays

The purpose of educational research workers on alternate appraisals in assorted professional instruction publications were to carry general pedagogues toward collaborative instruction by supplying analytical research to back up general instruction for particular needs pupils. â€Å" Teacher perceptual experiences and the eventful cogency of an alternate appraisal for pupils with important cognitive disablements † examines the variables of instructor perceptual experiences that may consequence the cogency of alternate appraisal in respects to particular needs pupils ( Roach, A.R. We will write a custom essay sample on Consequential Validity Of An Alternate Assessment For Students or any similar topic only for you Order Now , Elliott, S.N. , Berndt, S. , 2007 ) . R.J. Kettler and the research squad stated in their article, â€Å" What do alternate appraisals of alternate academic accomplishment criterions step? that the consequences from their survey back up the adaptative behaviour, academic accomplishments, and academic enablers as steps for academic accomplishment for particular needs pupils. Introduction Many public schools and private schools are exchanging their schoolrooms and schoolroom directions to collaborative learning squad attack ( CTT ) . Collaborative learning squads consist of two instructors, one general instruction instructor, and the other, a particular instruction instructor. Together, they plan their educational strategic lessons and schoolroom direction to turn to the demands of their pupils, which included pupils with particular demands. These particular demands may besides include English as Second Language ( ESL ) and/or English Language Learners ( ELL ) pupils. Some instructors are for the alteration and others are against it. To justified collaborative instruction squads ( CTT ) , many research articles were written to carry instructors that collaborative learning squads are successful. For this article, two research articles about alternate appraisal for particular needs pupils from well-established diaries were chosen to confirm or non confirm the usage of c ollaborative instruction squads. Although two research articles about curative appraisal will non confirm the usage of this strategic educational attack, the articles will give some penetration for or against the CTT enterprise. The first article, â€Å" Teacher perceptual experiences and the eventful cogency of an alternate appraisal for pupils with important cognitive disablements † written by Andrew T. Roach, Stephen N. Elliott, and Sandra Berndt, focused on the analysis of mensurating the instructor ‘s perceptual experience in respects to the alternate appraisal for particular need pupils. Research workers were concern about how the instructors ‘ perceptual experience affects the result of the alternate appraisal when given to particular needs pupils ( Roach, Elliott, Berndt, 2007 ) . The research workers were concern about the attitudes instructors develop when they have to take the clip and pass the alleged ‘extra energy ‘ to administrate the alternate appraisals. Alternate appraisals are given when the particular needs pupils are non able to take the academic appraisals. The alternate appraisal ( AA ) must run into the province ‘s criterions before being administer ed to pupils. In the 2nd article, â€Å" What do alternate appraisals of alternate academic accomplishment criterions step? A multitrait-multimethod analysis † from Ryan J. Kettler and the research squad were more concern about ‘what ‘ the alternate appraisal steps. They were concern about what the AA really measures in footings of academic abilities and adaptative behaviours such as societal accomplishments, physical accomplishments, etc. To happen out the ‘what ‘ , the research workers used the ‘multitrait-multimethod analysis ‘ attack to acquire the replies. The consequences from the research were that â€Å" the AA reading and math tonss may reflect a unitary concept, the AA tonss are extremely related to adaptative behaviour and academic competency and accomplishment, and all these tonss represent an unique but overlapping concepts ( Kettler, Elliott, et. al. , 2010 ) . † Before analyzing the consequences of this research, the first article about instructors ‘ perceptual experience about alternate appraisals will be discussed. Teacher Perceptions and the Consequential Validity of an Alternate Assessment for Students With Significant Cognitive Disabilities The consequences of this research may bespeak little sums of fluctuations of diminution positive attitudes/perceptions toward alternate appraisals among particular instruction instructors harmonizing to the pupil grade degree. To mensurate these consequences, the research workers created the WAA ( Wisconsin Alternative Assessment ) Teacher Survey – a paper and pencil study was given to instructors ( 4th, 8th, and 10th classs ) to finish and portion their perceptual experiences refering the WAA procedure and consequences. The consequences suggested that instructors were â€Å" by and large ambivalent to slightly positive. † Some reserves about the clip required to finish the appraisal were reported but the most of import find was that the study revealed the arrested development of positive perceptual experiences about the WAA procedure as pupil class degree advanced. Harmonizing to the research consequences, â€Å" there were no extra forecaster variable accounted for a important proportion of the fluctuation in instructors ‘ response on the WAA Teacher Survey ( Roach, A.R. , Elliot, S.N. , Brendt, S. , 2007 ) . † Although the research workers mentioned assorted restrictions about this research including geographic influence, the one major failing about this research is the answerability of the instructors ‘ perceptual experiences about the AA throughout the school twelvemonth. Teachers may show their feelings at the minute while taking the study. Emotions/attitudes and perceptual experiences do fluctuate throughout the school twelvemonth and there are many variables to act upon them. To corroborate the consequences, research workers of this undertaking will necessitate to take studies throughout the school twelvemonth and a few old ages subsequently to acquire a echt read on the instructor ‘s perceptual experiences about the AA. What Do Alternate Appraisals of Alternate Academic Achievement Standards Measure? A Multitrait-Multimethod Analysis Before analyzing the consequences of this research, the research attack needs to be understood to understand the consequences. What is the ‘multitrait-multimethod ‘ attack? The multitrait-multimethod ( MTMM ) attack is an integrative, multivariate ( many variables ) model for research intents. Teachers can consistently garner valid information and discriminate or distinguish it in a individual survey. The research survey consisted of the followers: Multiple Traits – Academic public presentation, Academic accomplishments, Academic enablers ( â€Å" for example, societal accomplishments, survey accomplishments, motive, and battle ) are student attitudes and behaviours that facilitate a pupil ‘s engagement in, and benefit from academic direction in the schoolroom † ( DiPerna, J.C. 2008 ) Adaptive behaviour Multiple Methods – Individually administered accomplishment trials Teacher completed evaluation graduated tables This peculiar survey was more comprehensive as it focused on faculty members and non perceptual experiences and it involved many provinces, non merely one remarkable province. The consequences indicated that AAs had common measurings with the related traits like adaptative behaviour, academic accomplishments, and academic enablers, significance, instructors will construe such findings as steps of academic accomplishment peculiarly for pupils with the most terrible cognitive disablements. The instructors will merely hold to do certain to go on doing the AA measures what it suppose to mensurate and non let it to mensurate adaptative behaviour, therefore, going more and more academic ( Kettler, et. al. , 2010 ) . Decision It is compulsory for particular pupils to take these alternate appraisals in order to carry through the province ‘s authorization but in malice of it, instructors should go on to educate pupils with particular demands for every twenty-four hours life, as this is necessary for their endurance. Harmonizing the writers, many instructors, irrespective of the legislative attempts, in peculiar collaborative instruction squads and such, to concentrate on answerability for pupil acquisition in the nucleus academic topics, opt to keep a hard balance between academic accomplishments and non-academic accomplishments in their schoolroom direction. The valorous attempts of schoolroom instructors to supply non-academic accomplishments for pupils of important disablements to populate successful unrecorded exterior of schools are indispensable ( Kettler, R.J. , et. al. , 2010 ) . On the other manus and based on experiences working in CTT schoolrooms, it is recommended for future research to take into consideration the possible harmful effects of personality clashing of learning squads and it effects on the pupils. In add-on, research can be done on the kineticss of learning squads in the daily operations of the schoolroom, and the kineticss between the pupils and the instructors ( separately and jointly ) in order to heighten the research workers ‘ persuasion for collaborative instruction squads in general instruction schoolrooms. How to cite Consequential Validity Of An Alternate Assessment For Students, Essay examples