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You can't build a house without the right measuring tools to ensure that the structure is sound and won't collapse: tape measures, protractors and levels are used to tell construction workers and architects how much material is needed and where everything goes. In the business world, the measuring tools are called financial ratios, and they help you evaluate a financial statement. By learning how to calculate and analyze specific ratios, you can evaluate trends, determine how healthy a business is, and have key indicators as to how the business is performing. They also allow you to make financial comparisons between companies. This video covers the ratios most commonly used to analyze a business.
Ask most Australians about the impact of the GFC and they'll tell you it wasn't too bad. With prudent bank regulation and a Government guarantee on bank savings, Australia's economy was the envy of the world. But was it that simple? This week reporter Debbie Whitmont tells the story of one Australian bank's near death experience and the fall-out for its customers.
If you believe the advertising, when you borrow money from a bank you are dealing with people who say they understand you and your business; someone who's prepared to work with you in good times and in bad. For many in business though the reality is rather different.
Back in early 2008, the Australian economy was going well. With the property market booming many businesses took out loans from Bankwest, a small but aggressive lender based in Perth. Then came the GFC. With its parent company in Britain facing dire financial problems, Bankwest customers began withdrawing money from their savings accounts. The Reserve Bank was worried and the Commonwealth Bank saw an opportunity. Moving fast the Commonwealth took over Bankwest for the bargain basement price of $2.1 billion.
From everyone's point of view, including Australia's central bank, it looked like a good deal. But what happened next shocked customers. Aware that the GFC was driving down property values and slowing the economy, Bankwest's new management did an audit of loans. Valuations were re-assessed; businesses called to account and in some cases loans were terminated. The Commonwealth Bank says both it and its subsidiary acted properly at all times - but did the bank act too harshly? Could some of these businesses have been saved?
This program talks to a developer, a couple who dreamed of owning a holiday motel as a retirement nest egg and a publican who ran the classic country pub. All thought they had a bank they could rely on - but all lost their businesses.
Four film clips explain and illustrate key topics in finance using a variety of case study examples.
CLIP 1: INTRODUCING ACCOUNTS (7 mins)
What do a company's accounts tell you? Why are they important? This is a simple guide to the profit and loss account (income statement) and balance sheet. Together these documents form the basis for a company's annual report. The balance sheet provides a snapshot of a firm's financial health - but what do we mean by financial health?
CLIP 2: WHAT IS ACCOUNTING? (7 mins)
Working capital is getting tight at Blakeway and Maynard wants to know what's going wrong. One reason: too many customers taking too long to pay up. Should they slow down on paying their suppliers or push their debtors to pay up quicker?
CLIP 3: FORECASTING IN BUSINESS (7 mins)
This clip explains the critical and tricky business of predicting future trends. Examples range from informal forecasting at a small business, to a marketing manager exploring future sales trends using time series analysis.
CLIP 4: BREAKEVEN ANALYSIS (7 mins)
What is breakeven analysis - and why do companies do it? Working out when a product or new store will break even is critical management information. But breakeven analysis isn't easy - and it has its limitations.
At Boyne USA Resorts, nature is the primary playground for sport and leisure enthusiasts. The resorts are best known for having some of the most sought after ski and snowboarding facilities. Although Boyne's revenue streams are numerous, variations in the amount of snowfall greatly affect how Boyne manages their operations and their finances during the winter season. With a cost-volume-profit analysis, or CVP, it's possible to determine their financial break-even point, which can guide their most critical decisions.
Five years ago, the office furniture market hit a slump due largely to the dot-com bust and the 9/11 disasters. Herman Miller Incorporated, an office furniture manufacturing company in Michigan, may have overcome this slump better than most. With assistance from Toyota, the company has created the Herman Miller Production System, modeled after the Toyota manufacturing system of lean production. The company has also adopted Economic Value Added, or EVA accounting methods to more accurately measure performance.
For nearly a half century, The Second City has been North America's premiere live improvisational and sketch comedy theater company. It's two Chicago stages regularly play to sell-out audiences and the company has build successful theaters in Toronto, Las Vegas, Denver and Detroit. They've also developed flourishing training centers, national touring companies, The Second City television series, media and entertainment offshoots and a successful corporate communications division. The business consumes little and is largely depended on overhead. So CFO, Lou Carbone, and his accounting staff, carefully analyze fixed and variable overhead and watch for variances.
The successful web-based company, Zappos.com, has built a well-run organization that sells shoes online. Zappos.com holds a 20% share of the $3 billion online footwear business. One of the reasons a company such as Zappos.com is successful is because they use workflow analysis and job design to efficiently divide the required work into jobs, resulting in improved productivity, customer service and service delivery.
While many companies talk about TQM, methods, processes and tool sets, without measuring results constantly they can never be in a situation of continuous improvement. Measurement is often viewed as one of the most challenging elements of process management, but it truly is easy to get hard measurements on aspects of a service-based or product-based company.
With a little magic, you'll learn statistics without the usual mumbo-jumbo. You'll discover how to transform a confusing lump of numbers into an easy-to-understand picture, like distribution curves and stem-and-leaf displays..
Ever feel like you're not ordinary? Then you'll understand how numbers feel when we talk about measures of variability and standard deviation. Next, it's the mysterious z-score. What could it be? You'll find out!
What's the chance you'll draw a face card out of a 52-card deck? That's one of many questions related to probability! Find out about probability and more.
The program cover discrete and continuous random variables like Baryshnikov covers the dance floor. Languish not, for variance, standard deviation, and other linchpins of statistical learning will also present themselves for your enjoyment.
The program revisit the binomial formula. And believe it or not, you won't need a pen or paper! We'll show show you some handy tricks using clear explanations and fancy graphics. No mess, no boredom, just old-fashioned fun and a bit of rhythmics.
Topics Covered
Conditions for a binomial experiment
Binomial probability formula
Compound events
Mean of a binomial probability distribution
Standard deviation of a binomial probability distribution
More about continuous random intervals as The program walk you from point A to point B. On the horizon is the dynamic duo of distributions: normal and uniform. These two distributions sizzle more than hotcakes on a radiator. Finally, we'll take a quick sample of sampling.
Find out how to employ the empirical rule, command the confidence coefficient, and exercise the error of estimation. And you'll learn what we call the meanest of the mean: the mean of the sampling distribution.
The program cover null hypotheses, conquer the different types of hypothesis tests, and slay the two-headed tyrant of terror: Type I and type II errors. But we won't go it alone - our old allies z-score and his compatriot, the t-statistic, will make a reappearance.
Perfect for all students: high school, college, and adult
Step-by-step solutions by a renowned college professor
Helps you make sense of even the toughest topics
Statistics isn't just for math majors: now it's taught in high school, and it's even a required course for many college degrees in psychology, sociology, business, economics, engineering, and other fields! Now you can master this course quickly and easily with Statistics. The ultimate resource for AP high school students, college students, and adult learners, this set covers the standard topics taught in introductory stats classes and is jam-packed with practice questions and strategies for tackling even the most complicated problems.
The numbers don't lie: bestselling Statistics course helps even the most math-challenged students excel! Our Statistics set covers:
definitions
review of summation notation
descriptive statistics
data presentation: tables & charts
normal distribution & sampling distribution of the mean
confidence intervals & sample size determination
one-sample tests of hypothesis
testing differences between the means of two groups
The analysis of statistical data helps businesses make projections for the future. This presentation addresses the importance of retrieving statistics from survey results and using them to improve business effectiveness and efficiency. Basic statistical calculations are examined along with the role they play in business strategies. The presentation also analyzes the variety of methods used to display statistical data after it has been formulated. Different types of projections are also classified along with how they are created.