The Do This, Get That Guide On Essay Topics Examples

<h1> The Do This, Get That Guide On Essay Topics Examples</h1> <p>Selecting an extraordinary point for your exposition is among the most critical and oftentimes precarious parts for some understudies. Expositions are regularly vital for grant applications. Composing an extraordinary enticing paper isn't a simple activity, in any case, it's achievable.</p> <p>Indeed, it's imperative to choose intriguing points for examination article. Examination expositions are known to be among the hardest to compose. The school exposition is among the most critical aspects of your school application. Independent of the amount or assortment of research included, pugnacious papers must set an unmistakable theory and follow sound thinking. </p> <p>The different points could be found, for example, in the thesis abstracts global database. In case you're thinking about protection on a greater scale, your conversation could comprise of web security or whether the legislature is endeavoring to attack our security through checking of calls and messages. In this manner, there'll be classifications, all of which will accommodate its district. </p> <h2> Who Else Wants to Learn About Essay Topics Examples? </h2> <p>Argumentative exposition points are so significant since they are debatableand it's fundamental to consistently be basically thinking about our general surroundings. As everybody most likely knows, essentially in light of the fact that you have a definition paper point and several models doesn't show you have an article. You don't need to consider over conversation exposition points and the best technique to finish elegantly composed paper. The incredible theme for a grouping article ought to have some legitimate point, you could arrange. </p> <p>In a few occasions, the school will offer an article point for you. It's in this way imperative to circumspectly consider diverse school paper subjects. School application paper points are a basic bit of an engaging and convincing piece of composing. For example, you can pick a point for basic, center, or higher school. </p> <p>Weave in your point of view to turn your exposition extraordinary. 1 significant thing that you ought to do when composing your article is to assist it with getting individual. Story paper points Narrative exposition is somewhat not quite the same as various sorts. An investigation exposition is a kind of powerful article. </p> <p>Education researchers are persistently advancing the way that they consider how we realize and what's instructed. Don't hesitate to pick a point which you will savor the experience of expounding on and not only one which you think will satisfy your teacher. All the time it turns out to be difficult to pick a solitary point either by virtue of the numerous thoughts in the understudy's head, or because of their total nonappearance. You may be parted with the subject straight by your educator, or you may be allowed to pick the point yourself. </p> <p>Facts, eventually, will consistently win out against how people are feeling at a particular second. It's essential to choose far from being obviously true pugnacious exposition themes as you need contradicting focuses that you may counter to your own focuses. The review could have been 10 pages in length, with 2 inquiries having some expertise in waterway sports. </p> <p>The greater part of the inquiries are on current subjects, in this manner staying refreshed with what's happening on the planet will really assist you with considering thoughts. In the event that you don't comprehend the issue, you've barely any chances to succeed. In this manner, if there's any motivation behind why you can't have your all-encompassing exposition composed on time yourself, you should simply put in your request on our site, and leave the rest to us! When earlier conceptualizing is done, you can start drafting your essay.</p>

The Essay Topics on Wolves Chronicles

<h1> The Essay Topics on Wolves Chronicles </h1> <h2> Details of Essay Topics on Wolves </h2> <p>Consequently, offices don't have the foggiest idea about the whole number of posers, critical reference point utilized by wolf directors. For example, if there was deforestation in a specific zone where numerous wolves live, they'd be driven out of their home and be compelled to live in an alternate environment. A few of these reasons doesn't gain chasing sensible. They're predators, so they chase whatever is offered as an approach to endure. </p> <p>There are bunches of explanations behind chasing wolves, yet not one of them truly cause it to take after chasing these animals is an amazing thing. These difficult penances are probably going to should be made so as to safeguard the untamed life that people live in. Mice and other littler rodents have precisely the same destiny. These creatures vanishing likewise realize an issue for people. </p> <p>They're likewise part of the Holarctic notable assortment. The pioneer of the pack is known as the Alpha. The overgraze land will likewise be an issue for guests. They may likewise convey portions of meat to their young ones. </p> <p>This is a colossal stretch of land and it won't be a straightforward accomplishment to save it. People should bring issues to light of this undertaking all together with the end goal for it to happen. Neither one of the gods, dread nor a prevalent living that can convey the people from the wolf. </p> <p>Fortunately, schools will ponder you in the event that you decide to fuse your adoration for writing in your article. Understudies will find some extraordinary focuses and thoughts basic for the advancement of an incredible school or school near paper. They compose better papers when they have some genuine models before them. </p> <p>Inform us in the remarks! In any case, all of them would appear in the general rundown. This rundown incorporates a little segment of a few fascinating science subjects that you may use recorded as a hard copy your own paper. </p> <p>You don't really need to dissect the life expectancy of individuals from precisely the same district or field of action. Additionally the amount of horseback riding was significantly influenced by the bounty of open region and meadow. On the 1 hand, numerous mishaps happen because of a driver's mindlessness. The streets can't be evacuated since they are significant for human travel. </p> <p>This approach has remarkable results and advantages the whole class. In any case, there's an answer. It would require difficult work from residents who are simply attempting to go about day by day life. There's a huge answer for your issue! </p> <h2> The Fight Against Essay Topics on Wolves</h2> <p>I first clarify that I concocted the idea by thinking about how I'm considered responsible in the real world. Be that as it may, much like with any incredible piece of composing, you have to comprehend your crowd. It's surely an incredibly solid and instructive film which educates, alongside engages. The watcher sees beautiful natural scenes which cause you to feel as if you're in that spot. I'll additionally ensure I have a sentiment of cleverness which will help make a warm, welcoming air. You should get a sentiment of who the other individual is. </p> <p>It's now, that Kicking Bird understands that the main way to deal with associate is to get a common language. This wolf web site is a decent start. Commonly, it takes upwards of 2 hours of time to search over many locales until you find something energizing to expound on. On the off chance that they're too debilitated to even think about escaping bed, wash them with a wipe or fabric with an awesome piece of data to gather is the scope of breaths an individual takes in. Think about the resulting discourse thoughts, a couple of which are simple, and others may be somewhat troublesome yet significant. In the event that you own a companion or relative who peruses a ton of books in their extra time, I wager you believe that they're truly shrewd. </p>

Essay in Russia - The Essay Topics For A Student

<h1>Essay in Russia - The Essay Topics For A Student</h1><p>Writing a paper in Russia resembles composing an exposition in some other nation. The undertaking of composing a paper in Russia is one that may not be simple and requires a decent handle of the Russian language and culture. There are some significant things that are basic when composing an article in Russia.</p><p></p><p>You need to get familiar with the guidelines of sentence structure and utilization of Russian. You have to realize how to function with the Russian language and culture. You have to compose the article in the right path and to the correct point. Along these lines, you have to have a decent comprehension of Russian sentence structure and the Russian culture.</p><p></p><p>It is an unquestionable requirement for an understudy to gain proficiency with the standards of Russian culture. Understudies need to have a more profound comprehension of the Russian culture and the estimations of the Russian culture. For understudies, it is an absolute necessity to know the social estimations of the Russian culture. The subjects of finding out about the Russian culture are accessible in the books in the schools.</p><p></p><p>An significant piece of the composing task for understudies in Russia is to discover the instances of English, Russian and other remote writing that is written in Russian. This assignment is required when they compose the exposition. Understudies ought to have a profound comprehension of the Russian language and culture. The example sentences from various books can be taken as a guide for the understudies while composing their essay.</p><p></p><p>Students who are taking the composed assignments for the papers should give some significance to accentuation, sentence structure and sentence length. The subjects of study for composing the articles in Russia can be separate d into the subject, sentence arrangement, definition, and topic. These are significant subjects for understudies to consider while composing an exposition in Russia.</p><p></p><p>It is constantly suggested that understudies utilize the most ideal methods for learning the subjects while composing the articles. Understudies can take help of the on the web and the disconnected guides to get familiar with the subject effectively.</p><p></p><p>An exposition in Russia has a reason and that is to pass the educational committee assessments. An article must have the option to persuade the educators and others who will pass judgment on the understudy's composing skills.</p>

Essay Examples About Your Moms Labor

Essay Examples About Your Mom's LaborThere are plenty of different kinds of essay samples about your mom's labor that you can use for your paper. Writing a paper on your mom's labor can be difficult if you are unsure of how to go about doing it. Make sure that you know your mom well enough so that you can relate well to her. She had to go through a lot of stress and hardships to give birth to you.It is no doubt that your mom's pain will still linger in your mind after you are done writing about it. A lot of times, we all feel that way even after we are done with our paper. Don't worry though, because you have plenty of essay samples about your mom's labor. You just have to take the time to think about what you are going to write.There are a number of different reasons why you would want to write an essay about your mother's labor. Some of the examples of these reasons include a test that you need to get passed, your mother having to go into surgery, or you want to show off your mothe r's achievements in childbirth. They are all great reasons to do so.Make sure that you know how to write a paper. This can make a big difference when it comes to essay samples about your mom's labor. You should be able to gain an idea of what kind of essay that you want to write. You also want to know where to start with it.First and foremost you need to take the time to go to your local library and check out some essay samples about your mom's labor. You can also go online and look them up there as well. After you get a few different ones that you like, you can start writing.Although essay samples about your mom's labor can help a lot, you should also make sure that you are honest. Your mom had to go through a lot to give birth to you. You want to avoid embellishing her life for the sake of it.When you were born, your mother was around 12 weeks pregnant with you. When your mom was unable to bear a child of her own due to the fact that she had severe back problems, she went to a doc tor for the first time. She was told that she was infertile. However, she was told that there was a way to try.In the end, she went ahead and decided to take this particular pill and began to have a child. She said that the experience made her realize how lucky she had been. After she delivered her child, she went on to become a professional doula.

Tips For Finding the Best Custom Term Paper Ghostwriter

Tips For Finding the Best Custom Term Paper GhostwriterMany students are not sure where to start when they want to write a custom term paper. They may feel that the best way to go about it is to have a term paper ghostwriter to write it for them. Here are some tips to help you find the best custom term paper ghostwriter.One of the first things that you need to do when you are looking for a custom term paper ghostwriter is to find a good ghostwriter service. The best way to find one is to look online. There are many people who will actually write for you, as well as helping you write it, which is what we are going to talk about here.One of the best places to find a writer is to go online and do a search. You will get a variety of results, and you will need to find the best one. You will have to compare some prices though, because the more writers you have in mind, the more they cost.Make sure that the site that you choose to use has the ability to offer multiple writers. If they only have one writer, then you won't be able to get any ideas out of him or her. You may be stuck with having to pay all of them for your project.Once you have narrowed down your choices to only a few, you need to get back to the drawing board. Keep a list of questions in mind so that you can ask any ghostwriter that you interview. Keep in mind the following questions:The most important question is the one that will ask you how much they will charge for the work. You want to make sure that you get a quote that fits your budget. A good idea is to find a cheap quote, and then do a comparison between the two to see which one is more affordable. After you have the quotes, you need to make sure that you have a price agreement in place before you start the project. This way, you know what the final price will be. You may find that the writer that you have hired does not offer you anything less than what you originally wanted.Now that you know how to find the best custom term paper ghostwriter, you can get started. You should start by asking your friends and family for their thoughts on the person they think should be doing your term paper. Remember that they are people who you may not like, so if you don't like someone's opinion, you should listen to theirs.

Marx’s Communist Manifesto and Conrad’s Heart of Darkness...

Marx’s Communist Manifesto and Conrad’s Heart of Darkness From social relationships to political power structures, all aspects of society were changed by the technology innovations of the industrial revolution. Manufacturing goods on a mass scale led to the development of an entirely new worker who’s success now depended on his ability to operate machines rather than his talent as a craftsman. The steam engine revolutionized modes of transportation: trains and railroads were implemented everywhere and steamboats facilitated cross-oceanic trade and exploration. In developed nations, agriculturally based economies gave way to manufacturing and trading economies as feudal systems were replaced by democratic societies. What allowed†¦show more content†¦Tocqueville observes that with increasing equality, an unprecedented value is assigned to personal property, thus changing the simplistic medieval power structure that was based solely on property ownership to a far more complicated equation. Tocqueville states that every new inve ntion, every new need occasioned thereby, and every new desire craving satisfaction were steps toward a general leveling. The taste for luxury, the love of war, the dominion of fashion, all the most superficial and profound passions of the human heart, seemed to work together to impoverish the rich and enrich the poor. (pp. 10-11). This new system of meritocracy allowed people to put their personal virtues, such as intelligence, knowledge, and intellect, to use when attempting to achieve power and wealth. But Tocqueville sees society’s democratization as no novelty. Rather, as he states on page 9, the democratic movement is the most continuous, ancient, and permanent tendency known to history. Tocqueville goes on to support this bold statement with his observations of France: the noble has gone down in the social scale, and the commoner gone up; as the one falls, the other rises. Each half century brings them closer, and soon they will touch (11). From reading Tocqueville, th e reader soon associates democracy as being a savior for the people because the conditions implied by it are responsible for the inevitable general

Working Capital Analysis Free Essays

string(107) " can brings the liquidity problem in short term and solvency problem in long term due to loss on business\." CHAPTER-I INTRODUCTION 1. 1 Back ground of Study Working Capital refers to that part of the firm’s capital, which is required for financing short-term or current assets such a cash marketable securities, debtors and inventories. Funds thus, invested in current assets keep revolving fast and are constantly converted into cash and this cash flow out again in exchange for other current assets. We will write a custom essay sample on Working Capital Analysis or any similar topic only for you Order Now Working Capital is also known as revolving or circulating capital or short-term capital. Therefore, working capital management is the same of liquidity management and its relate inversely with profitability. It is significance for any industries due to the investment in Current Assets (CA) must be adequate because inadequate or excessive inadequate working capital can disturb production and can also threaten the solvency of firm, if it fails to meet its current obligation excessive investment in CA should be avoided, since it impairs firm’s profitability Secondly, need for working capital arises due to increasing level of business activity ; it is to provided quickly some time surplus fund may arises which should be invested in Short term securities , they should not be kept idle. The importance of Working capital management compelled to the firms to try the optimal level of investment in each element such as inventories, cash, account receivables but the firm also consider to way of financing the current assets. This means, consideration of current liabilities which include account payables, notes payable, interest payable and other shot-term debt. In addition, the firm can adopt an aggressive working capital management policy with a low level of current assets as a percentage of total assets, or it may also be used for the financing decisions of the firm in the form of high level of current liabilities as a percentage of total liabilities(Nazir and Afza,2009), and it is the opposite in conservative working capital management policy. On the other hand, it should be distinguished between three policies that related directly with the working capital efficiency. First policy is collection policy, that measured by average receivables collection period (ARCP) which is meaning the average length of time required to convert the firm receivables into cash. Second policy is inventory policy, which expressed by average conversion inventory period (ACI). It means the average length of time required to convert raw materials into finished goods and then sell these goods. Third policy of working capital efficiency is payment policy, which measured by average payment period (APP) that means the length time between the purchase of materials and the payment of cash (Weston and Brigham,1993). These policies require from company to accelerate the collections of receivables, accelerate its inventory, accelerate the payment cycle, and reduce the cost of the working capital needs. Above mentioned policies can be merged them in one general policy, is called cash conversion cycle (CCC) developed by Richards and Laughlin(1980) which focuses on the length of time between when the firm makes payments and when it receives cash inflow. To fulfill the one of the most important goal of organization to maximization of share holder’s wealth of a firm is possible only when there is sufficient return from the operations and successful sales activity is necessary for earning profit sales without convert into cash immediately. To generate the sales and revenue activities there will be the s invisible time lap between the sale of good and receipt of cash. Hence, the time taken to convert raw material into cash is known as operating cycle that includes following activities in different phase. At first phase: * Conversion of cash into raw material * Conversion of raw material into work in progress * Conversion of Work in progress into finished goods * Conversion of finished goods into Sales ( Debtors and cash) At second Phase: Cash received and at third phase is payment of credit. A low cash conversion cycle allows the managers to minimize holdings of relative unproductive assets such as cash and marketable securities, preserves the firm’s debt capacity since less short-term borrowing is required to provide liquidity and corresponds to a higher present value of net cash flows from firms assets Moreover, the cash conversion cycle is an important technique of analysis for the financial mangers of firm to assess why and when the firm needs more cash to sustain its activities. I am going to comparative study of Surya Nepal Private Limited (SNPL) is an Indo-Nepal-UK joint enture, which started operations in Nepal in 1986. SNPL, a subsidiary of ITC Ltd, India, is the largest private sector enterprise in Nepal. The balance shares are held by dispersed Nepalese shareholders and British American Tobacco, UK. Surya Nepal’s businesses include manufacture and marketing of cigarettes and readymade garments in Nepal as well as exports of ready-made garments wi th a total turnover of over US $100 million. Secondly, The guiding force behind Dabur’s growth and success has been the wealth of nature and its limitless capacity to support life. And we have constantly taken care to preserve and protect this natural bounty. With this overall vision of and to eco-sustenance, expand Dabur’s resource and production base, Dabur Nepal Private Limited was set up as an independent Group company in 1992. This new company, set amidst the verdant greens and towering mountains of the Himalayan kingdom of Nepal, has established a unique bond of technology and preservation. 1. 2 Problem of Statement The management of a company’s working capital significantly influences its profitability. In the short term, companies risk being short on liquidity if the working capital level deteriorates. In the long term, too much working capital lowers the return on investment and reduces the value of the company. In contrast, a reduction of the working capital can significantly improve cash flows and free up capital from a company’s balance sheet. This capital can then be used to reduce debts, pay dividends to investors or reinvest in company growth. In the context of Nepal there is not practically implementation of working capital management technique that can brings the liquidity problem in short term and solvency problem in long term due to loss on business. You read "Working Capital Analysis" in category "Essay examples" This can be the one most important reason for the lower growth rate of manufacturing firm. I want to gain insight into this field and to identify potential areas for optimization of working capital management for the profitability on the Nepalese manufacturing firm. Performance of firm on the topic of working capital management is very essential to reach the optimum level of working capital then to enhance their profitability. But these elements can be affected by Nature of business, seasonality of operations, production policy, market condition, and political scenario. Therefore, I have done this investigation to know the answer of following question. a. What are the factors of working capital for Nepalese manufacturing firm? b. How can working capital affects the performance to enhance profitability of firms? c. How is the performance of firm to achieve the optimal working capital in order to maximize the profitability? 1. 3 Objective of the Study The main objective of the research is to measure the impact of working capital management on the profitability for Nepalese manufacturing firm. The specific objectives of the study are summarizing as following. a. To analyze the relationship between working capital management and profitability for manufacturing firm. b. To determine the relationship between size of firm and the profitability c. To Know the relationship between leverage and profitability. 1. 4 Limitation of the Study This study is intended to measure the impact of working capital management on profitability of Nepalese manufacturing firm but the study also influences from the following limitation. a. There isn’t financial sponsor for the depth study. b. Due to the time constraints it is not possible to analyze the each variable in details. c. In depth analysis and the study of financial position is not feasible because of the policy and privacy of firm. d. The information is assuming true that is taken from different source. CHAPTER-II LITERATURE REVIEW 2. 1 Literature Review According to Wilner (2000) most firms extensively use trade credit despite its apparent greater cost, and trade credit interest rates commonly exceed 18 percent and Deloof (2003) also found that according to National Bank statistics during 1997, Belgian companies had accounts payable of only 13% of the total asset and accounts receivable and Inventory of 17% and 10% of the total asset respectively. Singh and Pandey (2008) discussed the impact of working capital management in the profitability of Hindalco Industries Limited. Regression results showed that current ratio, liquid ratio, receivable turnover ratio and working capital to total assets had statically significant impact on profitability. Dong and Su (2010) examined the relationship between profitability, the cash onversion cycle and its component for listed firms in Vietnam stock market for period (2006-2008). They resulted that there is strong negative relationship between cash conversion cycle and the profitability. Cote and Latham (1999, p. 261) argued that management of receivables, inventory and accounts payable have tremendous impact on cash flows, which in turn affect the profitability of firms. According to Long, Malitz and Ravid (1993) it is seen that liberal credit terms to the customers increase the sales level of the firm, though having a continuous troubleshooting with managing short term financing in the finance department. The decision lays with the firm which one to put more importance on. Scherr (1989, p. 6) claimed that companies can strengthen strong cash flow levels, improve profitability, budgeting and forecasting process, predictability and manageability of results, heighten risk if they implement the best practices in working capital. Amit, Sur and Rakshit (2005) studied the relationship between working capital and profitability in the context of Indian pharmaceutical industries and concluded that no definite relationship can be established between profitability and liquidit y. Cote and Latham (1999, p. 61) argued that management of receivables, inventory and accounts payable have tremendous impact on cash flows, which in turn affect the profitability of firms. Scherr (1989, p. 16) claimed that companies can strengthen strong cash flow levels, improve profitability, budgeting and forecasting process, predictability and manageability of results, heighten risk if they implement the best practices in working capital. Eljelly(2004) identified the relation between profitability and liquidity who was examined, as measured by current ratio and cash gap (cash conversion cycle) on a sample of joint stock firms in Saudi Arabia. The study found that the cash conversion cycle was of more importance as a measure of liquidity than the current ratio that affects profitability. The size variable was found to have significant effect on profitability at the industry level. The results were stable and had important implications for liquidity management in various Saudi firms. First, it was clear that there was a negative relationship between profitability and liquidity indicators such as current ratio and cash gap in the Saudi sample examined. Second, the study also revealed that there was great variation among industries with respect to the significant measure of liquidity. Sur Biswas and Ganguly (2001) revealed in their study of Indian aluminium producing industry, a very significant positive association between liquidity and profitability. All previous studies had reached to the same results approximately, which had proved there is the negative relationship between the working capital, debt ratio, current ratio and profitability, and the positive relationship between size of the firm with profitability. This study tries to depend on previous studies to provide new evidence on how working capital can effect on the profitability. . 2 Research Frame Work Model ROA Leverage Performance Working Capital Efficiency Profitability of the Firm Size of Firm Current Liabilities Current Assets Organization Planning Growth of business Ln of Sales Debt ratio Liquidity ratio: CR All the components such as Working Capital, Profitability and Size of the firms, Liquidity, and Leverage performance are interrelated to each other. The working capital affects the profitabil ity of the firm. Similarly size, leverage, and liquidity affect the working capital requirement and profitability of the firm. If there is low in current assets then it can’t pay the short term obligation and if firms keep in high ratio then investment opportunity will lose that decreases the value of profitability elements such as ROE and ROA. Secondly, if there is high concentration on sales by keeping low liquid assets then profit can increase and it helps to increase the growth rate of company and fulfill the objective of shareholder’s wealth maximization and ease for the competition but low liquid assets can creates the risk of liquidity. Therefore, all components of above mentioned are interrelated positively and negatively. After analyzing the financial ratio BOD, manager can formulate the policy for sustainable business as well as investors will take best decision for the investment. This study has been guided according to the above variables and discussed the variables relation after studied of two firms in detail in the below. Hence, this study will benefit for the best decision of working capital requirement to manage the profitability, leverage in long term and to growth the firm in stable rate. CHAPTER-III DATA COLLECTION AND METHODOLOGY 3. 1 Research Data Collection The data has taken from the secondary source regarding to the official site of Surya Nepal Pvt. Ltd and Dabur Nepal Pvt Ltd. Secondary data is assumed as an enough and reliable. Sample of this study has been focused on the joint venture Nepalese manufacturing firms. These two firms have chosen as a sample company due to big market in Nepal. To fulfill the objective of research, report is prepared by taking a financial data of two sample companies from 2006 to 2011. 3. 2 Definition of variable I have used of dependent and independent variables to complete the study are as below. Dependent variables include profitability measure which will be computed by the following equation: Return on Assets (ROA)=Net Operating IncomeTotal Assets Secondly, independent variables have been divided in two parts. First part includes working capital management variables. †¢ Average receivable collections period (ARCP) are used to express the credit policy. It is calculated by using following equation: Average receivable collections period (ARCP)=Account Receivables *365/Sales †¢ Average conversion inventory period (ACIP), which is expressed the inventory policy. It will be identified by following formula: Average conversion inventory period (ACIP)= Inventory *365/Cost of Sales †¢ Average payment period (APP) is used to reflect the payment policy it is measured measured by following equation: Average payment period (APP) =Accounts Payables *365/Cost of Sales †¢ Cash conversion cycle (CCC) is used to express the overall impact on working capital efficiency, and that is calculated by using following equation. Cash Conversion Cycle (CCC)=ARCP+ACIP-APP At the second phase of independent variables has been included as below. †¢ Size of the company = Natural of logarithm of sales (LNS). Current ratio (CR) = Current assets/Current Liabilities. †¢ Financial leverage ratio (FL) = Total Liabilities / Total Assets. 3. 3 Empirical Analysis This section contains the descriptive analysis by taking the help of mean, standard deviation, maximum and minimum value of all variables that is used in study. Similary, on the second phase of anal ysis here has been explained the relationship between the variables by using correlation coefficient. Moreover, regression model has been used to quantify the relation between variable and to measure the accuracy of this report. Multiple regression models have used to complete the regression analysis. All types of analysis and graphical representation will be expressed by using the MS office package 2007. For this study I have used 4 regression models to quantify the relation and model is as below. 1. ROA= a+b1ARCP+b2CR+b3FL+b4LNS (model -1) 2. ROA= a+b1ACIP+b2CR+b3FL+b4LNS (model-2) 3. ROA= a+b1APP+b2CR+b3FL+b4LNS (model-3) 4. ROA= a+b1CCC+b2CR+b3FL+b4LNS (model-3) CHAPTER-IV DATA ANALYSIS AND PRESENTATION 5. 1. Empirical Analysis and Findings 4. 1. 1Descriptive Analysis: Dabur Nepal Pvt. Ltd (Table 1) | ROA| ARCP| ACIP| APP| CCC| CR| FL| Lns|   |   |   |   |   |   |   |   | Mean| 0. 034| 35. 67| 75. 12| 42. 35| 68. 44| 2. 00| 0. 248| 21. 73| Standard Deviation| 0. 028| 19. 74| 31. 74| 35. 27| 39. 24| 0. 676| 0. 055| 0. 346| Minimum| 0. 001| 4. 13| 17. 37| 8. 33| 6. 30| 1. 52| 0. 207| 21. 39| Maximum| 0. 084| 55. 23| 111. 78| 93. 46| 120. 94| 3. 19| 0. 351| 22. 38| Count| 6| 6| 6| 6| 6| 6| 6 | 6| According to the above table, ROA on average is 34% and ROA existed between 0. 1 % to 0. 84%. The average receivables collection period has 5 days (approximately) as minimum to collect its receivables from the purchasers but it takes 55. 23 days as maximum to collect its receivable. The average days of generating its sales on account about 35. 67 days. In addition, the average conversion inventory period (ACIP) takes about 17. 37 days to sell all its inventory as minimum and takes 111. 78 days as maximum. The mean days to sell the inventories are 75. 12 days with standard deviation of 31. 74 days. About the APP, the firm has a minimum time 8. 33 days to pay its purchases on account and 93. 46 days as a maximum time. It takes an average 42. 35 days to pay its purchase with standard deviation of 35. 27. The cash conversion cycle (CCC) has 6. 30 days as a minimum time and maximum is 120. 94 days. The minimum current ratio (CR ) of the firm is 1. 52 and maximum is 3. 19 with the standard deviation of 0. 55%. The Natural Logarithm of size (LNS) shows minimum sales is 21. 39 and maximum is 22. 38 with the average of 21. 73. About the financial leverage is 20% as minimum and maximum is 35% with the standard deviation of 0. 55%. Surya Nepal PVT. LTD (Table 2) | ROA| ARCP| ACIP| APP| CCC| CR| FL| LNS| |   |   |   |   |   |   |   |   | Mean| 0. 287| 5. 11| 191. 55| 63. 45| 133. 21| 1. 72| 0. 424| 22. 82| Standard Deviation| 0. 086| 2. 90| 21. 84| 5. 88| 19. 96| 0. 678| 0. 152| 0. 339| Minimum| 0. 178| 2. 54| 170. 51| 57. 0| 110. 72| 1. 06| 0. 255| 22. 42| Maximum| 0. 389| 9. 86| 232. 04| 73. 16| 167. 62| 2. 44| 0. 594| 23. 31| Count| 6| 6| 6| 6| 6| 6| 6| 6| an average return on assets(ROA) is just 28% which is lower than Dabur Nepal Ltd. But the minimum and maximum value of ROA exists between 17 % to 38 % and less variability comparison with Dabur Nepal Ltd. The Aver age receivable collection period (ARCP) is 5. 11 days approximately and lower than Dabur. Thus, collection capacity of dabur is very strong. similarly, ACIP of Surya Nepal exist between 170. 51 days to 232. 04 days. About the average CCC of Surya Nepal is 133. 1 days which is higher than Dabur Nepal. Therefore, we can say that, cash inflow days in the Dabur Company are quicker than Surya Nepal. Moreover, an average 42% portion is existed under the total assets of the Surya firm that is higher than Dabur Company. It means, Surya Nepal takes more loans for the business. About the average size of Surya Nepal is 22. 82 that is higher than Dabur. Graph: 1 source Table 1 and 2 Let summarize the above result: a. ROA of Surya Nepal is higher that tends to the meaning of; profitability volume is good rather than Dabur Nepal Pvt. Ltd. b. Credit collection capacity is stronger of Surya Nepal Pvt. Ltd. c. Surya Nepal Ltd. takes more time to convert the goods in raw material. d. Surya Nepal pays to supplier at delay comparison with Dabur. e. CCC of Surya is higher due to higher in ACIP and APP. 4. 1. 2. Correlation Coefficient Analysis Dabur Nepal Ltd. (Table 3) | ROA| ARCP| ACIP| APP| CCC| CR| FL| Lns| ROA| 1|   |   |   |   |   |   |   | ARCP| -0. 903| 1|   |   |   |   |   |   | ACIP| -0. 666| 0. 537| 1|   |   |   |   |   | APP| -0. 074| 0. 141| 0. 705| 1|   |   |   |   | CCC| -0. 927| 0. 811| 0. 446| -0. 258| 1|   |   |   | CR| 0. 835| -0. 627| -0. 888| -0. 450| -0. 6291| 1|   |   | FL| -0. 095| 0. 285| -0. 007| -0. 152| 0. 2743| 0. 48| 1|   | Lns| 0. 144| -0. 172| 0. 348| 0. 609| -0. 352| -0. 203| -0. 572| 1| Surya Nepal Pvt. Ltd (Table 4) | ROA| ARCP| ACIP| APP| CCC| CR| FL| LNS| ROA| 1|   |   |   |   |   |   |   | ARCP| -0. 420| 1|   |   |   |   |   |   | ACIP| 0. 393| -0. 174| 1|   |   |   |   |   | APP| -0. 359| -0. 402| 0. 441| 1|   |   |   |   | CCC| -0. 263| 0. 073| 0. 939| 0. 130| 1|   |   |   | CR| -0. 892| 0. 493| -0. 443| -0. 736| -0. 196| 1|   |   | FL| -0. 869| -0. 457| 0. 541| 0. 769| 0. 299| -0. 992| 1|   | LNS| 0. 958| -0. 437| 0. 569| 0. 464| 0. 423| -0. 893| 0. 902| 1| According to the Table 3 and 4, Return on Assets (ROA) has negative relationship with ARCP. It tends to the meaning of longer the time of collection days reduces the profitability of firm. Therefore, if a firm reduces the length between sales and collection, it will increase the profitability through reinvest collections in profitable investments. Correlation results related negatively between the average conversion conversion inventories (ACIP) and ROA significantly in the case of Dabur. It means when the firm reduces the length time required converting raw material in to finished goods and then to sell those goods that lead to enhance profit. But in the case of Surya Nepal, there is positive relationship between ARCP and ROA. It means, it should take more stock for the high profit. The average Payment Period (APP) has negatively correlation with Profitability. It means, if the both firm shorten the length time between purchases goods and payment of the value of goods, it will lead to increase profitability. There are negative relationship between cash conversion cycle (CCC) and ROA. If the firms shorten its conversion cycle as much as possible without hurting its operation, it will reflect positively on profitability. Correlation coefficient of the size (LNS) firm is positive relationship with profitability that indicates if the firm increases its size of sales; it will lead to increase its profitability. Current ratio refers to liquidity of the firm which relates positively correlated with ROA in case of Dabur but negatively correlated with ROA in case of Surya Nepal. Generally, if the firm invests its liquidity very well, it will generate high return and as per situation there might be required or not for holding of stocks in long term. About the Financial leverage that is negatively correlated with profitability. It means, if the firm depends on the financial leverage as much as need, ti carry itself financial obligation such as interest payment and principal payment and then it reflects negatively on its profitability. Dabur Nepal Pvt. Ltd. (Table 5) Year| 2006| 2007| 2008| 2009| 2010| 2011| ROA| 0. 031| 0. 030| 0. 022| 0. 001| 0. 084| 0. 038| CCC| 85. 74| 86. 30| 63. 87| 120. 93| 6. 29| 47. 46| Source Table 5. Graph 2 Conclusion: According to the above finding, the increasing in the value of CCC that decreases the value of ROA. And it is proved that there is negative relationship between ROA and CCC. Surya Nepal Pvt. Ltd Graph 3. Conclusion: In the case of Surya Nepal Pvt. Ltd, there is positive relationship between ROA anc CCC. This means to increase the profit of Surya firm then they have to increase the value of working capital component. 4. 1. 3Regression Analysis: Dabur Nepal Pvt. Ltd Table 6 Independent Variables| Model-1| Model-2| Model-3| Model-4| ARCP| -0. 001|   |   |   | ACIP|   | -0. 020|   |   | APP|   |   | -0. 0003|   | CCC|   |   |   | -0. 0004| CR| 0. 020| 0. 115| 0. 045| 0. 017| FL| -0. 021| -0. 577| -0. 178| -0. 015| Lns| 0. 014| 0. 053| 0. 008| 0. 002| Adjusted R^2| 0. 780| 0. 7| 0. 517| 0. 815| F-test| 0. 010*| 0. 01*| 0. 0051*| 0. 077**| Surya Nepal Pvt. Ltd Table 7 Independent Variables| Model-1| Model-2| Model-3| Model-4| ARCP| -0. 003|   |   |   | ACIP|   | 0. 907|   |   | APP|   |   | -0. 008|   | CCC|   |   |   | 0. 953| CR| 0. 275| 0. 360| 0. 221| 0. 275| FL| -1. 188| -1. 599| -0. 055| -1. 188| Lns| 0. 24 5| 0. 224| 0. 069| 0. 245| Adjusted R^2| 0. 770| 0. 67| 0. 71| 0. 79| F-test| 0. 0876**| 0. 0035*| 0. 012*| 0. 0144*| In the above table, F-test has been done at 5%=* and 10% =**significance of level. Table 6 and 7 presents the regression result of two firms of 4 models. According to the table 6 and 7, ARCP and ROA have negatively correlated. For the both Company if there is 1% increase in the days of collection period than less than 1% will decrease on the value of profitability. Similarly, for the both firm, liquidity ratio and size of firm is positively correlated. It means, increases in the sales that will increase the profit volume. Positive value of CR and LNS but negative value of financial leverage (FL) is accepted by all models. This means, if loan amount is increased by 1% then profit will decreased by 0. 21% in case of Dabur but more than 11% in case of Surya Nepal. All the, result revealed that, to increase the profit, firm should decrease the loan amount. According to the Model 4 from table 6, there is negative relationship between ROA and cash conversion cycle. This means, to increase the profit, Dabur should reduce the CCC. It is also supported by the theory of higher the working capital leads to the lower of profitability. On the other hand, model 4 from table 7 reveals that there is positive relationship between ROA and CCC. This result is beyond the theory and if Surya Nepal wants to increase its profit then it should increase the Working capital. It may the cause of poor situation of Nepalese economy, nature of business as well as less concentration on environment management that is leading to keep higher amount of stock. According to table 6, model 1 , 2 ,3 and 4 explained the dependent variable by independent in the portion of 78% , 77% , 51%, and 81 % respectively and remaining portion is due to other element. But in the table 7, dependent variable (ROA) is explained by independent in the form of 77%, 67%, 71%, and 79% and remaining part is covered by other elements. CHAPTER-V CONCLUSION AND RECOMMENDATION 5. Conclusion and Recommendation Working capital management is the same of liquidity management and its related inversely with profitability but this theory always doesn’t work. Here, I have found the different relationship between the component of working capital and profitability by taking financial data of Dabur Nepal Ltd and Surya Nepal Pvt. Ltd manufacturing from 2006-2011. This study appears that there is a negative significance relationship between average receivables collection period (ARCP), average conversion inventory period (ACIP, only case for Dabur), average payment period (APP) and the profitability measures. It is proved also a negative relationship between the cash conversion cycle (CCC) from the data of Dabur Company but it is not the result of universal fact because it is also proved that there can be a positive relationship between CCC and Profitability. The reason behind this can be the political risk, poor economy, lack of availability of raw materials and delivery of goods and services in time due to the labor union problem, increasing in supplier power, unavailability of credit facility, poor management of current assets and lack of efficient procedure and subsidy facility from government. After this analysis, the study recommends for the firms to manage their working capital efficiently to achieve the optimal profitability. Thus, the firms can manage their working capital through reduce the length time between sell the goods and receive cash of sales, it can do that by accelerating its collections. And it also reduce the length time between convert the raw materials into finished goods to sell these goods through. On the other hand the firms should shorten the length time between purchase goods to pay their purchases. All these will lead to shorten the cash conversion cycle and then lead to achieve the optimal profitability. Moreover, we can’t say that there will be lower profit due to higher CCC because due to the environmental factors the component of working capital can be influenced and result can go beyond the planning and objective. In the context of Nepal, where the practices of working capital management is poor and as a result firms are generating lower profit. Secondly, long procedure of raw material conversion and delay of payment also reduces the profit of firm. 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