The Pros and Cons of Technology Essay - 687 Words

People very often debate whether technology is good or bad. Many people believe that technology can only cause harm to their lives and society, while many others strongly defend the technologies which have made their lives much more leisurely and enriching than it could have been several hundred years ago. In my opinion, both of these views are correct to an extent, but I also believe that what should be examined is not whether technology in its self is good or bad, but rather how we as humans use it.For decades now, television has been accused of contributing to the dissolution of the American family and the destruction of the minds of those who watch it. However, although the TV has been involved in this, the problem roots not with†¦show more content†¦Refrigerators, gas and electric ovens, microwaves, vacuums, dishwashers....the list goes on and on. All these things have made housework tremendously easier than it would have been about 100 years ago. This results with both positive and negative effects. It has given us easier ways to get jobs done, leaving more time for other things, but the bad part of this is what is chosen to do in this extra time. In many cases, this extra time is spent doing leisurely things, which might make us more happy, but also has an effect on our health. Lately we have become aware of the dangers of heart disease and the health benefits of exercise....the exercise we would have gotten 100 years ago just from doing our daily chores but now aren’t getting enough of because we don’t have to work as hard to do those same chores. This can be blamed on technology, but again, in fact it is our own fault because we chose to use the technology and spend the extra time lazing around.Now, something that really bothers me about technology is what is made out of it. I often question why people spend so much time and money trying to come up with so many useless things when we have global warming problems and starving children working in shoe factories. For example, scientists spent years to make a clone of a sheep. Now let me ask you, is their any practical use in knowing how to clone a sheep? Many people think that eventually this scientific advancement will lead intoShow MoreRelatedPros And Cons Of Technology1137 Words   |  5 Pages Technology in the past three decades has developed at such an increasingly rapid rate that the last decade’s generation is defined as â€Å"being born in the technological age†. People born in the 1990s are considered the last kids to have known a life without smartphones and computer technology creeping into every aspect of their lives. There are pros and cons to technology, with most of the cons being discovered ever increasingly as people become more and more intertwined with their own personal devicesRead MoreThe Pros And Cons Of Technology733 Words   |  3 PagesTechnology is a distraction â€Å"Among the worst offenders were students at Queen Mary University of London, where there were 54 instances of  cheating  Ã¢â‚¬â€œ two-thirds of which involved technology. At the University of Surrey, 19 students were caught in 2016, 12 of them with devices. Newcastle University, one the bigger institutions to provide data, reported 91 cases of cheating – 43% of which involved technology.† According to www.guardian.com Technology gets in the way of learning. The issue is thatRead MorePros And Cons Of Technology986 Words   |  4 PagesIs technology a curse or blessing? Technology has a dramatic effect on the way we gather and use information. It has impacted daily lives and changed the way people perceive and process information. Many articles have been written about the effects on humans of having so much information immediately available to them. Clive Thompson, a Canadian freelance a journalist and technology writer, discusses the pros and cons of technology use in his book â€Å"Smarter than you think: How Technology is ChangingRead MoreThe Pros And Cons Of Technology1591 Words   |  7 PagesYes: In the world we live in, technology is advancing everywhere from software to machines and even cooking utensils. Improvements to our lives, by technology, include electricity, medical technology, fast productions and, Access to information and education. Without technology the world would be different and it would leave us at a disadvantage. Imagine a world without internet where your teacher assigns you an essay to research nuclear fission. Without the internet, you would have to go toRead MoreThe Pros And Cons Of Technology1289 Words   |  6 PagesIs the technology in today’s world a positive advancement? Over the past few years technology has basically taken over our society. It isn’t just young people that use technology, it is all groups of people, that includes toddlers all the way up to elders. Technology is a major part of today’s society and makes many tasks a lot easier. One major issue with technology is that it’s abused and many people rely on it. Technology is â€Å"dumbing down† today’s society. Technology has not only been a benefitRead MorePros And Cons Of Technology874 Words   |  4 PagesModern humanity can hardly imagine life without technology. Technologies have become an integral part of people’s lives. Every day, people invent new devices or improve the existing ones. Humanity differs by their attitudes to new inventions. Some people believe that sophisticated gadgets are actually useful and necessary, while others concentrate on the negative impact on people and their lives. Similar technologies are specially created for performing the hardest and most monotonous work. EvenRead MorePros And Cons Of Technology1631 Words   |  7 Pagesof us wonder if technology is affecting society for the better, or for the worse. I believe there are major issues on the rise with today’s trending technologies. However, like most thing’s, there are both pro’s and con’s to the way technology affects our society. It has a way of giving us new exper iences, but in some situations technology can actually take away certain experiences. I’d like to explain my reasoning for those beliefs, and better explain that it’s not that technology is good or badRead MoreTechnology : The Pros And Cons Of Technology1668 Words   |  7 Pagespast 10 years technology has changed a drastic amount. Its now more common to have a smart phone then to have a flip phone. It’s also more common to text some rather then call them. Now there is a lot of benefits that can come from technology and I am a strong supported of using it, but its also important to use it the correct way. We all have to limit how much time we spend on technology and if you’re a parent its your reasonability to limit how much time your kids spend on technology. After spendingRead More The Pros and Cons of Technology Essay1525 Words   |  7 PagesThe Pros and Cons of Technology As far back as I can remember my family and I have taken advantage of technology. The types of technology have changed over the years, along with our usage and dependence on it. Technology is a fundamental part of our lifestyle, including both work and play. What is interesting is that we also have many friends who use very little technology in their day-to-day living. This drastic difference makes one wonder how necessary the technology really is, and whether orRead MoreThe Pros And Cons Of Technology Integration958 Words   |  4 PagesTechnology in K-12 Schools This article discusses the pros and cons of technology integration. There are many arguments and fair points on each end of the spectrum, but it all comes down to how we must progress with technology. Public schools in the United States have more than 5.8 million computers in the schools, and that equals to one computer per nine students, and while seems like a lot, it does not allow every student access, so teachers are less likely to use computers in their lessons (Wurster)

The Adventures Of Huckleberry Finn And The Awakening

Name Instructor Corse Date Realism In the century America, there were changes in the society and politics resulting from the expansion to the westward as well as the civil wars. Artists in America turned to reality and regionalism as a way to bring their concerns during that time. Their concerns included the widening gap in social classes where there were class struggles among those of the working class as well as the middle class who were brought down socially. These artists wrote down these transfo0rmations brought out in the nation by creating removed, impartial status of everyday life. In a bid to bring readers to be fascinated by their stories and to depict their character and the reader’s setting to life, Mark Twain in the adventures of Huckleberry Finn and the awakening by Kate Chopin used regionalism and in the same way, Henry James showed the reality of life in his story Daisy Miller. Mark Twain together with Kate Chopin were experts in crea6ting a regionalism-based America.Regionalism,not forgetting refers to words that concentrate wholly on specific features which are not common of a certain region including the peoples way of life, the speech of the people, the land sloping, the history as well as the characters. It focuses on both the formal and the informal creating analyses on the way other people view other people as well as other communities as they live and how there. The narrator is important in this regional-based fiction since he or she deservesShow MoreRelatedA Brief Note On Book The Adventures Of Huckleberry Finn 1310 Words   |  6 PagesSarah Jane Reshetiloff Mr. O’Hearn Honors British Literature 26 September 2015 Social Satire in The Adventures of Huckleberry Finn Mark Twain’s novel The Adventures of Huckleberry Finn is a masterful social satire that demonstrates the awakening of a young, adventurous boy living in a culture of slavery. He uses humor and an unreliable narrator to convey social satire in the novel to reflect the flaws of society toward in the antebellum south. The novel was published in 1884, just after slaveryRead MoreRegionalisms Impacts on America, Especially The Adventures of Huckleberry Finn by Mark Twain651 Words   |  3 Pagesinto prominence during the early 1900s. Despite the fact that Regionalist novels were written as early the 1880s, novels like The Adventures of Huckleberry Finn did not gain popularity until the 1930s, but have not faded from the public conscious since. At first, the Regionalist style was regarded as coarse by many people of the time. The Adventures of Huckleberry Finn was banned from the Concord Library. The Concord (Mass.) Public Library committee has decided to exclude Mark Twains latest bookRead MoreMark TwainS Religious Views Seen Through His Works. Mark1341 Words   |  6 Pagesglobal fame because of his travel narratives, such as The Innocents Abroad of the year 1869, Roughing It of the year 1872, and Life on the Mississippi of 1883. He is also famous for his boyhood adventure stories, particularly The Adventures of Tom Sawyer of the year 1876 and Adventures of Huckleberry Finn of 1885. He was known to be a distinctive humorist, and irascible moralist, and a gifted raconteur. Before independence, America was marked by cultural and religious differences among small coloniesRead MoreThe Importance Of Euphemism In Huckleberry Finn1497 Words   |  6 Pagesargument is to leave the novel intact and utilize it as a teachable moment for all teachers and students included. Because Huckleberry Finn is a novel that still arouses controversy evidently it handles issues that as a society we have not been able to overcome. Huckleberry Finn in its raw form is the epitome of a controversial work that arouses discussion. Huckleberry Finn with the message it conveys and the history that it drags through utilizing one word demonstrates the harsh realities that asRead MoreThe Adventures Of Huckleberry Finn By Mark Twain880 Words   |  4 PagesTwain‘s The adventures of Huckleberry Finn is a wonderful illustration of the picaresque nineteen century American novel. The author portrays the world and spirit of the South through the eyes and the journey of a young boy, Huck, and his friends Jim, and Tom. From the beginning, three themes friendship, conflict between society and natural life, and escape, emerge and are developed throughout the novel. Friendship underlines the entire book as the hero is essentially an orphan, Huckleberry Finn. HuckRead MoreMorality and Mark Twain670 Words   |  3 Pages Mark Twain states that â€Å"Morals are an acquirement, like music, like a foreign language, like piety, poker, paralysis, no man is born with them.† The Adventures of Huckleberry Finn focuses on the main character, Huckleberry Finn, and his journey down the Mississippi River with a runaway slave name Jim. Huck Finn grows up in a society that deforms and manipulates his conscience, but Jim is able to awakes his sound heart and influence his morality. Throughout the tale, Huck faces conflicts that attackRead MoreHuckleberry Finn2439 Words   |  10 Pages The novel The Adventures of Huckleberry Finn was written by Mark Twain and published on December 10, 1884. This picaresque novel takes place in the mid-1800s in St. Petersburg,  Missouri and various locations along the Mississippi River through Arkansas as the story continues. The main character is young delinquent boy named Huckleberry Finn. He doesn’t have a mother and his father is a drunk who is very rarely involved with Huck’s life. Huck is currently living with Widow Douglas and Miss WatsonRead MoreAnalysis Of Mark Twain s The Great Gatsby 2501 Words   |  11 PagesRealism†, there were many other influential Realist authors. Herman Melville, one of Twain’s contemporaries, was the author of the well-known novel, Moby Dick. Kate Chopin was another very important Realist author. She wrote the short stories, â€Å"The Awakening† and â€Å"A Pair of Silk Stockings†. Chopin wrote about the average struggle of a middle-class woman try ing to choose between the desire for luxury and the necessities for her family in â€Å"A Pair of Silk Stockings†. Harriet Beecher Stowe published UncleRead MoreThe Character Development Of Huckleberry Finn By Mark Twain Essay2166 Words   |  9 PagesThe character development of Huckleberry Finn from Mark Twain’s piece, â€Å"The Adventures of Huckleberry Finn,† reflects the transition from boyhood to manhood of the main protagonist who is challenged by society to either maintain his own unique perspective and attitude or assimilate into a civilized community that upholds traditional White-American beliefs. Similarly, Kate Chopin in her novel â€Å"The Awakening,† utilizes fictional storytelling to articulate the internal struggle of Edna Pontellier onRead MoreBehind the Name Heart of Darkness Essay978 Words   |  4 PagesRevision: The significance of a title such as The Adventures of Huckleberry Finn is easy to discover. However, in other works (for example, Measure for Measure) the full significance of the title becomes apparent to the reader only gradually. Using Heart of Darkness, show how the significance of its title is developed through the author’s use of devices such as contrast, repetition, allusion, and point of view. Behind The Name Heart of Darkness The heart of darkness in the title Heart

Financial Statement Analysis Of Myer Holdings - Myassignmenthelp.Com

Question: Discuss about theFinancial Statement Analysis of Myer Holdings. Answer: Introduction Myer is an Australia company established in 1900. It is the largest Australian departmental store with over 60 stores operating across Australia. Basically, Myer Holding is the public limited company which is ranked in number 131 out of 2000 top organisations in Australia (Myer Holdings Ltd 2013). Its chief executive officer is Richard Umbers while its chairman is Paul McClintock who is also referred to non-executive chairman. The company usually generates most of its revenue from departmental stores in the Australian industry. Basically, Myer Holdings engages in numerous operations of departmental stores across Australia. In essence, Myer offers a wide range of products ranging from mens wear, home wares, youth wear, furniture, footwear, childrens wear, electrical goods, general merchandise, womens wear, toys, handbags, beauty as well as cosmetic products (Myer Holdings Ltd 2016). In addition, Myer offer some retail customer loyalty programs. Myer operates around 67 stores under its brand name Myer Holdings Limited. It has stores across six Australian states and Australian Capital Territory. In essence, it locations comprise a mixture of key suburban shopping centres, city stores, and as well as shopping centres in the regional New South Wales, Tasmania, Victoria and Queensland. The company operates under retail sector and like other retail companies; this companys shares have been affected greatly during the mass exodus of the investors from retail sector. In the financial year 2016, it generated a total of $2.8 billion in revenue with a total of 12,500 employees across Australia (Myer Holdings Ltd 2016). Further, its share price is now down with 36% since the beginning of this year. Its independent auditor is PwC which ensure that the companys financial statements are audited compliant with the Australian Auditing Standards (Myer Holdings Ltd 2010). According to the auditor Myers financial statements are in accordance with Corporations Act of the year 2001 including abiding by the Australian Accounting Standards, providing a true and fair outlook of its financial status in 2016. Industry Situation and Myer Plans Australian retailing industry has increased by around 3% in the current value in 2016 which is in consistence with growth observed during the previous year. Further, the industry experience high competition with subdivision firms struggling to compete against cheap online stores. Despite the comparison with global retail industry, Australian retail industry is a significant and large part of Australian retail economy. Further, in Australian retail industry, foreign retailing firms are strongly represented with retailing firms such as Gap, Apple and Fossil capitalizing on the increasing sale potential. With these considerations, domestic retailing firms such as Myer Holding are required to come up with better plans to overcome the stiff competition being experienced in the industry. Myer Holding Limited future plans is to grow by 0.6% in the next one year (Myer Holdings Ltd 2016). This seems to be possible since the company has outperformed in the retail industry for the last one year . In addition, it ROE for the last one year left a significant mark to be desired. Furthermore, its future plans include a $480,000,000 capital investments as well as over 3% improvement every year in its total sales in the next three to five years. It also plans to reduce its costs through store rationalisation and lifting it sales via refurbishment of its stores and shifting towards bigger brand sold via in-store concessions (Myer Holdings Ltd 2016). Financial Statement Analysis From Myer Holding income statement, it is clear that for the last five year, the company experienced a decreasing trend in its gross profit. This is evident by a increase in its gross profit as from as from $1,285.9 million in 2014 to around $1,290.4 million in 2015 and decreased to around $1,274.3 million in 2016 (Myer Holdings Ltd 2016). Its net income in the past five years experienced a decreasing and increasing trend. This is evident by a decrease as from $98.5 million in 2014 to around $30 million in 2015 and an increase to around $61 million in 2016. Its income from operations also experienced a decreasing and increasing trend for the past five years decreasing as from $160.3 million in 2014 to around $71.80 million in 2015 and then increasing to around $95.20 million in 2016 (Myer Holdings Ltd 2016). Table 1: Trend analysis of the income statement 2012 2013 2014 2015 2016 Change 2013 Change 2014 Change 2015 Change 2016 Revenue 100.00% 100.00% 100.00% 100.00% 100.00% 0.32% -0.33% 1.58% -0.54% Cost of revenue 56.06% 55.34% 55.70% 56.34% 57.86% -0.96% 0.30% 2.69% 2.11% Gross profit 49.31% 50.04% 49.22% 48.61% 48.27% 1.77% -2.00% -0.35% 1.26% Other income 1.03% 0.94% 4.07% 2.69% Operating expenses Sales, General and administrative 40.51% 41.84% 43.33% 43.59% 43.95% 3.50% 3.10% 2.17% 0.28% Other operating expenses 0.71% 0.00% 0.00% 23.36% 0.00% 0 0 -100.00% 0 strategic review, restructuring 0.88% 0.00% 2.32% 0.69% Total operating expenses 42.10% 41.84% 43.33% -69.27% -44.64% -0.30% 3.10% -161.56% 56.02% Operating income(EBIT) 8.98% 8.19% 6.14% 2.70% 3.61% -9.22% -34.00% -123.26% 24.58% Interest Expense 0.06% 0.05% 0.04% 0.03% 0.03% -7.14% -35.92% -37.33% 17.58% Other income (expense) 1.20% 1.14% 0.88% 0.89% 0.58% -5.03% -29.96% 2.43% -52.60% Income before income taxes 7.83% 7.12% 5.30% 1.85% 3.06% -9.76% -34.75% -182.28% 39.24% Provision for income taxes 2.44% 2.16% 1.53% 0.72% 0.77% -12.72% -41.85% -107.81% 4.95% Net income from continuing operations 5.40% 4.96% 3.77% 1.13% 2.31% -8.62% -31.88% -228.33% 50.82% Net income 5.40% 4.96% 3.77% 1.13% 2.31% -8.62% -31.88% -228.33% 50.82% Net income available to common shareholders 5.40% 4.96% 3.77% 1.13% 2.31% -8.62% -31.88% -228.33% 50.82% Earnings per share Basic Diluted Based on Table 2 below, it is evident that Myer Holding total current assets for the year 2014 was 24.83% of the total assets, while in 2015 and 2016 it was 25.49% and 25.70% respectively. On the other hand, the total non-current assets for the year 2014 was 75.12% of the total assets while in 2015 and 2016 it was 74.51% and 74.30% respectively. This means that total non-current assets as compared to total assets for the last five years experienced an increasing and decreasing trend. Further, the total current liabilities for the year 2014 was 27.47% of the total assets while in 2015 and 2016 it was 25.49% and 27.89% respectively. Its total non-current liabilities for the year 2014 were 26.28% of the total assets while in 2015 and 2016 it was 28.72% and 12.85% (Myer Holdings Ltd 2016). On overall, the total liabilities for the company in 2014 was 53.75% of the total assets while in 2015 and 2016 they were 54.27% and 40.69%. On the other hand, its total equity for the year 2014 was 46 .25% of the total assets while in 2015 and 2016, it was 45.73% and 59.31% respectively. This proves the fact that total assets of Myer for the past five years were equal to total liabilities plus total equities. Table 2: Trend analysis of balance sheet 2012 2013 2014 2015 2016 Current assets Cash and cash equivalents 1.99% 4.20% 3.83% 2.81% 2.41% Short-term investments 0.00% 0.00% 0.00% 0.79% 0.00% Total cash 1.99% 4.20% 3.83% 3.66% 2.46% Receivables 0.92% 1.26% 1.56% 1.61% 2.03% Inventories 20.11% 18.76% 19.49% 20.24% 21.22% Prepaid expenses 0.00% 0.00% 1.40% 1.80% 0.96% Other current assets 0.00% 0.48% -20.18% -21.14% -21.68% Total current assets 23.02% 24.70% 24.83% 25.49% 25.70% Non-current assets Property, plant and equipment Other properties 0.00% 0.00% 89.39% 94.54% 99.20% Property and equipment, at cost 26.87% 26.24% 89.39% 94.54% 99.20% Accumulated Depreciation 0.00% 0.00% -37.35% -44.83% -51.50% Property, plant and equipment, net 26.87% 26.24% 52.04% 49.71% 47.70% Equity and other investments 0.00% 0.00% 0.00% 0.00% 0.48% Goodwill 0.00% 0.00% 38.95% 39.90% 40.31% Intangible assets 48.80% 48.00% 57.53% 57.18% 56.48% Deferred income taxes 1.10% 0.87% 1.40% 1.91% 2.89% Other long-term assets 0.21% 0.19% -74.81% -74.24% -73.55% Total non-current assets 76.98% 75.30% 75.12% 74.51% 74.30% Total assets 100.00% 100.00% 100.00% 100.00% 100.00% Liabilities and stockholders' equity Liabilities Current liabilities Accounts payable 20.70% 19.99% 21.06% 20.30% 20.18% Deferred income taxes 0.79% 0.98% 0.78% 0.05% 0.75% Deferred revenues 0.13% 0.00% 0.62% 0.74% 1.18% Other current liabilities 4.59% 5.98% 5.02% 4.40% 5.78% Total current liabilities 26.22% 26.95% 27.47% 25.49% 27.89% Non-current liabilities Long-term debt 26.50% 26.29% 43.66% 46.74% 15.79% Other long-term liabilities 1.53% 0.07% -17.38% -18.02% -2.94% Total non-current liabilities 28.03% 26.36% 26.28% 28.72% 12.85% Total liabilities 54.24% 53.31% 53.75% 54.27% 40.69% Stockholders' equity Common stock 27.10% 26.82% 27.16% 27.82% 39.56% Retained earnings 18.94% 19.58% 19.61% 17.75% 20.29% Accumulated other comprehensive income -0.77% 0.21% -0.52% 0.16% -0.59% Total stockholders' equity 45.76% 46.69% 46.20% 45.73% 59.31% Total liabilities and stockholders' equity 100.00% 100.00% 100.00% 100.00% 100.00% Based on Table 3 below, it is evident that Myer ash flows from operations were relatively high than the new income for the last five years. On the other hand, it is evident that the company is expanding in terms of investing activities over the last five years. Besides, it is also evidence that the main source of financing for Myer Holdings is common stock issued. Further, based on the analysis, it is evident that Myer Holdings cash flow has decreased for the past five years as from $74 million in 2014 to around $45 million in 2016. Table 3: Trend analysis of the cash flow 2012 2013 2014 2015 2016 Cash Flows From Operating Activities Other non-cash items 6.60% 8.24% 7.04% 3.50% 5.36% Net cash provided by operating activities 6.60% 8.24% 7.04% 3.50% 5.36% Cash Flows From Investing Activities 0.00% 0.00% 0.00% 0.00% 0.00% Investments in property, plant, and equipment -1.79% -2.00% -3.66% -4.55% -2.91% Acquisitions, net -0.31% 0.03% -0.11% 0.00% 0.00% Purchases of investments 0.00% 0.00% -1.21% 0.00% -0.32% Purchases of intangibles -0.37% -0.68% -1.98% -1.33% -0.86% Sales of intangibles 0.10% 0.00% 0.00% 0.00% 0.00% Other investing charges 0.27% 0.67% 3.19% 3.61% 1.98% Net cash used for investing activities -1.70% -2.45% -3.81% -2.24% -2.09% Cash Flows From Financing Activities 0.00% 0.00% 0.00% 0.00% 0.00% Long-term debt issued 0.00% -0.07% 0.00% 0.65% 0.00% Long-term debt repayment 0.00% -0.01% 0.00% 0.00% -10.61% Common stock issued 0.01% 0.02% 0.18% 0.00% 7.62% Cash dividends paid -4.60% -4.05% -3.63% -2.63% -0.58% Other financing activities -0.28% -0.09% 0.00% 0.00% 0.00% Net cash provided by (used for) financing activities -4.87% -4.21% -3.48% -1.98% -3.56% Net change in cash 0.03% 1.59% -0.29% -0.72% -0.29% Cash at beginning of period 1.37% 1.39% 2.97% 2.67% 1.91% Cash at end of period 1.40% 2.98% 2.71% 1.91% 1.62% Ratio analysis Ratio analysis is an important aspect that is used in analysis financial performance of a given organization in numerous areas. In addition, ratio analysis is an important tool in comparing an organizations financial performance with the industry averages. It could also be utilized in form of the trend analysis in identifying some of the areas where financial performance of an organization deteriorated or improved over time (Chen Shimerda 1981). In this case, the most common ratio that will be used in analysis Myer Holding financial performance would include; Liquidity ratios, market strength ratios, long-term solvency ratios, profitability ratios as well as cash flow adequacy ratios Liquidity ratios: Working capital This ratio is useful in measuring both an organizations efficiency. It is usually computed by subtracting an entitys total current liabilities from its current assets (Lev Sunder 1979). In this case, the working capital for the past five years is as follows; 2012 = 441.5- 502.9 = -61.4 2013 = 479.2- 522.7 = -43.5 2014 = 480-531 = -51 2015 = 481 -481 = 0 2016 = 480 -521= -41 Current ratio This financial ratio is obtained by dividing Myers current assets with its total current liabilities (Chen Shimerda 1981). In this case, current ratio for the past five years is as follows; 2012 = 441.5/502.9 = 0.88 2013 = 479.2/522.7 = 0.92 2014 = 480/531 = 0.90 2015 = 481/481 = 1.00 2016 = 480/521= 0.92 Receivable turnover It is computed by dividing net value of the credit sales by average account receivable. It shows the efficiency with which an organization manages its credit and how it collects on the credits (Barnes 1987). In this case, receivable turnover ratio for the past five years is as follows; 2012 = 147.61 2013 = 107.43 2014 = 86.70 2015 = 87.43 2016 = 69.69 Average days sales uncollected The ratio is used in measuring when an organization would actually receive cash from sales. This is computed by dividing account receivable by net sales (Lev Sunder 1979). In this case, average days sales uncollected for the past five years are as follows; 2012 = 2.47 2013 = 3.40 2014 = 4.21 2015 = 4.17 2016 = 5.24 Inventory turnover The ratio is used in measuring number of times inventories in an organization is utilized or sold in a given period of time. It is obtained by dividing COGS by inventories (Barnes 1987). In this case, inventory turnover ratio for the past five years is as follows; 2012 = 3.80 2013 = 3.99 2014 = 3.86 2015 = 3.92 2016 = 3.85 Average days inventory on hand This is the financial ratio used in measuring the number of days an organization takes in selling its average balance of the inventories. In addition, it is an estimate of days for which balance of the inventories is adequate. It is obtained by dividing days in a year by inventory turnover (Lev Sunder 1979). In this case, the average days inventory ratio for the past five years is as follows; 2012 = 96.12 2013 = 91.55 2014 = 94.51 2015 = 93.22 2016 = 94.69 Profitability ratios Profit margin This shows dollars in income that an organization earns on every dollar of its sales. It is computed by subdividing Myers net income by its sales (Chen Shimerda 1981). The ratio assists in detecting consistency in an organizations earnings. In this case, profit margin for the past five years is as follows; 2012 = 5.40% 2013 = 4.96% 2014 = 3.77% 2015 = 1.13% 2016 = 2.31% ROE The ratio shows the amount of dollars of net income that is earned by an organization on its equity. It helps in measuring how profitable a given firm is by comparing its income to average equity (Barnes 1987). In this case, the ROE for the past five years is as follows; 2012= 16.08% 2013 = 14.34% 2014 = 11.03% 2015 = 3.48% 2016 = 5.51% ROA This ratio is used to measure amount of dollars in the net income earned by an organization on its total assets. It usually helps in measuring how cost-effective a firm is comparative to its overall assets. In essence, ROA shows how well organizations management is utilizing its total assets in generating profit (Chen Shimerda 1981). In this case, the ROA for the past five years is as follows; 2012 = 7.36% 2013 = 6.70% 2014 =5.10% 2015 = 1.59% 2016 = 3.27% Asset turnover The ratio is useful in measuring efficiency of an organizations use of assets in generating revenue or income. This ratio is obtained by subdividing net revenue by assets (Altman 1968). In this case, asset turnover for the last five years is as follows; 2012 = 1.36 2013 = 1.35 2014 = 2,729/1,933 =1.35 2015 = 2,772/ 1,887 = 1.41 2016 = 2,781/1,868 = 1.41 Long term solvency ratios: Debt to equity This is a type of long-term solvency ratio which is used in comparing an entitys total liabilities or debts to its total equity (Lev Sunder 1979). In essence, it is a tool for measuring the percentage of an organizations balance sheet which is financed by lenders, obligors, suppliers and creditors versus what its shareholders have committed. It is obtained by comparing total liabilities of an organization by its total equity. In this case, the debt to equity ratio of Myer for the last five years was; 2012 = 1.19 2013 = 1.14 2014 = 1,039/893 =1.16 2015 = 1,024/863 = 1.19 2016 =760/1,108 = 0.69 Interest coverage This form of ratio is very crucial since it is used in determining how easily an organization could settle its interest expenses on the outstanding debts (Higgins 2012). It is obtained by dividing EBIT by an organizations interest expenses. Here, a low ratio means that the company is having high burden of the debt expense. In this case, interest coverage ratio for the past five years is as follows; 2012 = 156.40 2013 = 153.43 2014 = 155.63 2015 = 95.73 2016 = 104.62 Cash flow adequacy Cash flow yield It assists in measuring how well an organization generates cash from the current operations. It is obtained by dividing an organizations cash flow from its operations by the net income (Lev Sunder 1979). In this case, cash flow yield for the past five years would be; 2012 = 1.29 2013 = 1.78 2014 = 192/98 =1.96 2015 =97/30 = 3.23 2016 = 149/61 = 2.44 Cash flows to sales The ratio helps in comparing an organizations cash flow to net sales. This assists in determining its capacity to turn revenues into cash (Higgins 2012). In this case, cash flow to sales for the past five years is as follows; 2012 = 1.40% 2013 = 2.98% 2014 = 74/2,729 =2.71% 2015 = 53/2,772 = 1.91% 2016 = 45/2,781 = 1.62% Cash flows to assets The ratio is useful in rating cash flow to total assets without any instance of affecting income measurements or income recognition (Higgins 2012). It is obtained by diving cash flows from the operating activities by average total assets. In this case, cash flow to assets for the past five years would be; 2012 = 1.99% 2013 = 4.20% 2014 = 74/1,933 =3.83% 2015 = 53/1,887 =2.81% 2016 = 45/1,868 =2.41% Free cash flow The ratio is used in measuring an organization capacity to maintain its efficiency and competiveness. It is an essential aspect in an organization which is computed by subtracting capital expenditure from operating cash flow (Lev Sunder 1979). In this case, free cash flow is as follows; 2012 = 45 2013 = 77 2014 = 192-155 = 37 2015 = 97-163 = -66 2016 =149-105 = 45 Market strength Ratios Price/earnings per share The ratio usually shows how much an inventor is willing to pay off per each dollar of the current earnings. As a result, high price/earnings per share are linked with growth stocks (Altman 1968). It is obtained by dividing an organizations market price of each share by EPS. It usually In this case, P/E per share ratio for the past five years is as follows; 2012 = 23.68 = 19.41% 2013 = 21.97 = 19.33% 2014 = 228/15.3 =14.9 2015 = 126/4.77 = 26.42 2016 = 133.5/7.7 =17.34 Dividends yield This is the percentage of the cash dividend per share organization by its current price per share. It is used in measuring how much an entity pays in dividends every year in relation to its share prices (Altman 1968). With these considerations, Myer dividend yield for the past five is; 2012 = 12.57% 2013 = 9.35% 2014 = 6.4% 2015 = 7.00/126= 5.56% 2016 = 5/133.5= 3.75% Conclusion From the above analysis, it can be concluded that Myer Holdings is financial stable and healthy. This is evident by its relative in its ROA, ROE, profit margin as well as its increase in interest coverage in the financial year 2016. The increase is a clear indication that the company is regaining and is now able to generate high profit in its daily operations. Furthermore, its liquidity and solvency ratios are also clear indication that the firm is equipped in settling both its short and long-term debt obligations. In spite of its decreasing trend in P/E ratio as well as its dividend yield, there is still some proof that the company is financially healthy with increased net income in 2016.Therefore, While Myer Holding is not a speedy growing firm, it could still provide interesting investment opportunities. This is based on the fact that its financial ratios shows that the company has a lot to be desired ranging from its profitability to its leverage level. Hence, Myer Holding could be considered a strong performer in the market. REFERENCES 4 Traders 2017, Myer Holdings Ltd; Viewed at 8th September 2017 from; https://www.4-traders.com/MYER-HOLDINGS-LTD-6500903/financials/ Altman, EI 1968, Financial ratios, discriminant analysis and the prediction of corporate bankruptcy, The journal of finance,23(4), 589-609. Barnes, P 1987, The analysis and use of financial ratios: a review article,Journal of Business Finance Accounting,14(4), 449-461. Chen, KH Shimerda, TA 1981, An empirical analysis of useful financial ratios,Financial Management, 51-60. Higgins, RC 2012,Analysis for financial management. McGraw-Hill/Irwin. Lev, B Sunder, S 1979, Methodological issues in the use of financial ratios, Journal of Accounting and Economics,1(3), 187-210. Myer Holdings Limited 2010, Myer Holdings Limited auditors report; Viewed at 8th September 2017 from; https://media.corporate-ir.net/media_files/irol/23/231681/2010AR/2010AR/assets/downloads/Myer_AR10_Auditors_Report.pdf Myer Holdings Ltd 2013, Myer Holdings Ltd annual report 2013; Viewed at 8th September 2017 from; https://www.annualreports.com/HostedData/AnnualReportArchive/M/ASX_MYR_2013.pdf Myer Holdings Ltd 2015, Myer Holdings Ltd 2015 annual report and notice of annual general meeting; Viewed at 8th September 2017 from; https://www.annualreports.com/HostedData/AnnualReportArchive/M/ASX_MYR_2015.pdf Myer Holdings Ltd 2016, Myer Holdings Ltd 2016 annual report and notice of annual general meeting; Viewed at 8th September 2017 from; https://investor.myer.com.au/FormBuilder/_Resource/_module/dGngnzELxUikQxL5gb1cgA/file/Myer_Annual_Report_2016.pdf