Reflection Week free essay sample

Apply ratio, vertical, and horizontal analyses to financial statements Ratio analyses are used by companies to gather information in a company’s financial statement. Ratios and numbers from a company’s current year are compared to previous years and sometimes even the economy to judge the company’s performance. There are several ratios such as profitability ratios, liquidity ratios, activity ratios, leverage ratios and market ratios that can be used to calculate financial information. In vertical analyses, each entry of the assets, liabilities and equities in a balance sheet is represented as a proportion of the total account of the financial statement. In horizontal analysis a company’s ratios are compared in the financial statements over a period of time. Horizontal analysis can be used from revenues to earnings per share. Prepare a statement of cash flows using both direct and indirect methods. When preparing a statement of cash flows, there are two different methods that can be used; there is the direct method, and there is also the indirect method. We will write a custom essay sample on Reflection Week or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The direct method shows operating cash receipts and payments, making it more consistent with the objective of a statement of cash flow, while the indirect method adjusts net income for items that do not affect cash. The FASB allows both methods to be used because in the end the results of the total amount for net cash provided by operating activities arrive in the same way. Companies use numerous adjustments when preparing such statements so following a proper guide such as the direct method or indirect method will help to ensure that everything is properly in order the way it should be. Prepare journal entries associated with the issuance of preferred and common stocks and the declaration and payment of dividends The issuance of common stock affects only paid-in-capital accounts. Always record common stock at its par or stated value. Debit Cash and credit Common Stock. Preferred stock has preference over common stock. However, preferred stockholders do not have voting rights. The entry is debit to Cash and credit to Preferred Stock. For a corporation to issue cash dividends there must be: retained earnings, adequate cash, and a declaration of dividends. A company does not pay dividends unless its board of directors decides to do so, then it is deemed declared. When it is declared then it becomes a liability. Three important dates are observed with dividends: declaration date, record date, and the payment date. Declaration commits a corporation to legal obligations.

Origins of the Jammu and Kashmir Conflict

Origins of the Jammu and Kashmir Conflict When India and Pakistan became separate and independent nations in August of 1947, theoretically they were divided along sectarian lines. In the Partition of India, Hindus were supposed to live in India, while Muslims lived in Pakistan. However, the horrific ethnic cleansing that followed proved that it was impossible to simply draw a line on the map between followers of the two faiths - they had been living in mixed communities for centuries. One region, where the northern tip of India adjoins Pakistan (and China), chose to opt out of both new nations. This was Jammu and Kashmir. As the British Raj in India ended, Maharaja Hari Singh of the princely state of Jammu and Kashmir refused to join his kingdom to either India or Pakistan. The maharaja himself was Hindu, as were 20% of his subjects, but the overwhelming majority of Kashmiris were Muslim (77%). There were also small minorities of Sikhs and Tibetan Buddhists. Hari Singh declared Jammu and Kashmirs independence as a separate nation in 1947, but Pakistan immediately launched a guerrilla war to free the majority-Muslim region from Hindu rule. The maharaja then appealed to India for aid, signing an agreement to accede to India in October of 1947, and Indian troops cleared the Pakistani guerrillas from much of the area. The newly-formed United Nations intervened in the conflict in 1948, organizing a cease-fire and calling for a referendum of Kashmirs people in order to determine whether the majority wished to join with Pakistan or India. However, that vote has never been taken. Since 1948, Pakistan and India have fought two additional wars over Jammu and Kashmir, in 1965 and in 1999. The region remains divided and claimed by both nations; Pakistan controls the northern and western one-third of the territory, while India has control of the southern area. China and India both also claim a Tibetan enclave in the east of Jammu and Kashmir called Aksai Chin; they fought a war in 1962 over the area, but have since signed agreements to enforce the current Line of Actual Control. Maharaja Hari Singh remained head of state in Jammu and Kashmir until 1952; his son later became the governor of the (Indian-administered) state. The Indian-controlled Kashmir Valleys 4 million people are 95% Muslim and only 4% Hindu, while Jammu is 30% Muslim and 66% Hindu. Pakistani-controlled territory is almost 100% Muslim; however, Pakistans claims include all of the region including Aksia Chin. The future of this long-disputed region is unclear. Since India, Pakistan, and China all possess nuclear weapons, any hot war over Jammu and Kashmir could have devastating results.