Assignment 4: Figure Out Your Expense Categories
Yesterday was Mikey's 30th birthday, so I gave him the day off. Today though we are back to work with Assignment 4!

For this assignment, I had Mikey take the first Expense Item that he created in Assignment 3 and break it out further into expense sub-categories. I instructed him to create several new rows under the first expense item in Excel. In this space he was to type out a list of all of the items that he could think of that he would have to spend money on to produce the main expense item (in this case "Photo Books"). He did not have to enter numbers, just the names of the expense items.

In order to make things manageable (and take less than two minutes!) we are only going to tackle each little box at a time. If you remember the diagram from last time:


You can see how we are taking just one of the smaller boxes and expanding it out. Mikey's homework assignment over the next few days will be to expand the rest of the boxes under "Expenses". Completing this process should only take about 2 minutes for each box.

Here are the results of the experiment:

Here is the list of expense sub-categories after completing this first two minute assignment:


Here is the complete list of expanded categories:
(To be completed over the next few days.)

Time to complete assignment: 1 minute 50 seconds
Scariness Scale: 2
Difficulty Scale: 4

GMAC receives $5B in bailout funds
WASHINGTON (AP) -- The government says it will provide $5 billion to the GMAC Financial Services, the funding arm of General Motors Corp., from the $700 billion bank rescue program.

The Treasury Department also says it will lend up to $1 billion to General Motors so that it can participate in a debt for equity swap with GMAC, which is seeking to raise additional capital. The loan is in addition to the financial assistance the government announced Dec. 19 for GM and Chrysler LLC.

Last week, the Federal Reserve approved GMAC's application to become a bank-holding company, which enabled it to receive money from the financial rescue fund.
From: http://finance.yahoo.com/news/GMAC-receives-5B-in-bailout-apf-13931546.html

business activity of the enterprise
business activity of the enterprise
The Ministry of Education of the Russian Federation

The Tyumen International Institute of Economy and the Right

Economic Faculty

Chair of the account and

Course work

On discipline the economic activities analysis

THEME business activity of the enterprise

Has executed the student . 152

White hairs Dmitry Konstantinovich

The head

Zhuravkova Irina Vasilevna

Tyumen 1998

Table of contents

Introduction 3

Business activity 4

5

PROFITABILITY 13

PROFITABILITY OF THE CAPITAL 13

PROFITABILITY OF ACTIVITY 17

The conclusion 22

The literature list 23

The appendix 1 24

The appendix 2 27

The appendix 3 27

Introduction

Before to begin discussion of a technique of the analysis of business activity of the enterprise I would like to note an increasing role of use of new technologies for carrying out of the analysis of economic activities of the enterprise.
The economic analysis is accompanied by performance of great volume of various calculations absolute and relative deviations average sizes dispersions percentage sizes etc. Besides in the course of the analysis various kinds of estimations groupings comparisons and sortings of initial data are carried out a finding of the minimum or maximum value and a number of other operations. Results of the analysis demand graphic or tabular representation. All this variety of kinds of analytical processing of the economic information is object of automation with application of a modern communication facility and computer facilities and also the newest software products intended for carrying out of the economic analysis.

All it allows to make more exact and difficult calculations which cannot be executed manually to represent the information more visually in the form of tables and schedules and the most important thing to do it more often with the minimum expenses of time that now it is very important for many enterprises it is necessary for them to react to environment changes quickly.

Now in Russia there is enough considerable quantity of software products which allow to automate process of the economic analysis including analysis of business activity.

Use of computers completely is natural does not allow to replace the person as only it is capable to do conclusions being based on the presented information and to make corresponding decisions using the theoretical knowledge.

Business activity

Business activity of the enterprise in financial aspect is shown first of all in speed of a turn of its means. Profitability of the enterprise reflects degree of profitableness of its activity. The analysis of business activity and profitability consists in research of levels and dynamics of various financial factors and profitability which are relative indicators of financial results of activity of the enterprise.

The analysis of business activity allows to reveal how much effectively the enterprise uses the means. As it has already been told to the indicators characterising business activity we carry factors and profitability.

These two kinds of factors influence business activity of the enterprise as follows. We will admit that the working capital without short-term investments turns around once in a quarter at profitability of primary activity in 25 then the index of business activity for this quarter will be equal 0 25 or the same of 25 . If at the same profitability a working capital that increases in 2 times accordingly the index of business activity increases too in 2 times and then the enterprise for the same time period will receive 50 copecks of balance profit for two turns of the same volume of a working capital from each rouble of a working capital.

Similar conclusions become and with increase reduction of profitability. That is if it was slowed down it is necessary to compensate it profitability - to cut expenses to reduce expenses etc. If to raise profitability there is no possibility - it is necessary to take a turn i.e. to let out and realise more production.

Factors are of great importance for an estimation of a financial condition of the enterprise as speed of a turn of the capital that is speed of its transformation into the monetary form makes direct impact on solvency of the enterprise. Besides the increase in speed of a turn of the capital reflects with other things being equal increase of technological potential of the enterprise. 8 indicators and one complex indicator for this purpose pay off
- An index of business activity giving most a general concept about economic activity of the enterprise.

. - Average for the analyzed period size
1. The factor of the general actives shows how many time for the period is made a full cycle of manufacture and the reference the bringing in corresponding income. Pays off by division of volume of a pure gain from realisation on average for the period size of cost of actives.

a gain from realisation


for the period size of all actives

According to balance this indicator has made 0 87. It means that the full cycle of manufacture and the reference is made more than for 1 year and on 1 rouble of cost of all actives we receive 87 copecks of the income.
2. the basic means represents i.e. characterises efficiency of use of the basic industrial means funds of the enterprise for the period. Pays off division of volume of a pure gain from realisation on average for the period size of the basic means at their residual cost.

the basic means a gain from realisation

for the period size
means

The indicator is equal in our case 3 86. It speaks about that that on each rouble of cost of the basic means we have 3 86 roubles of the income and the period the basic means makes approximately 3 months.

Factor increase can be reached as for the account concerning low relative density of the basic means and at the expense of their high technological level. Certainly its size considerably fluctuates depending on branch and its capital intensity. However the general laws here are that that the above factor the more low costs of the accounting period. The low factor testifies or to insufficient volume of realisation or about too high level of investments in these kinds of actives.
3. The important indicator for the analysis is the factor material circulating assets that is speed of their realisation. As a whole the above value of this factor the less means is connected in this least liquid article especially liquid structure the working capital and that has a financial condition of the enterprise. And on the contrary overstocking with other things being equal is negatively reflected in business activity of the enterprise.

Factor calculation is made under the formula where in numerator - volume of a pure gain from realisation and in a denominator - average for the period size of cost of is material-industrial stocks and expenses.
material a gain from realisation
means

for the period size financially
stocks and expenses

According to balance the factor is equal 5 9. High value of this indicator speaks about more liquid structure of a working capital and accordingly steadier financial condition of the enterprise. Speed of realisation of material circulating assets makes approximately 2 months i.e. the enterprise is reserved by materials only for a month forward.
4. The factor a working capital shows speed of a turn of material and monetary resources of the enterprise for the period and pays off as the relation of volume of a pure gain from realisation to average for the period to working capital size.

a working capital a gain from realisation

for the period size
the capital

Between a working capital and realisation volume there is a certain dependence. Too small volume of a working capital limits sale too big - testifies to not enough effective utilisation of circulating assets. How to define an optimum parity of a working capital and realisation volume This parity helps to find factor a working capital. For each enterprise it is individual and if it is defined its value on an optimum level is necessary to support. To find it it is simple enough - if the enterprise at the given value of factor constantly resorts to use of the extra capital then this speed a working capital generates insufficient quantity of money resources for a covering of costs and activity expansion. And on the contrary if at constant volume of realisation or its increase the enterprise receives the sufficient income it is considered that effective speed of a turn of a working capital is reached.

By data from balance and the report on financial results this factor is equal 5 44. Being based on given balance we see that the enterprise during the given period of time has increased the long-term and short-term passives that testifies to insufficient quantity of money resources for a covering of costs.
5. The factor own capital pays off under the formula where numerator - a pure gain from realisation a denominator - average for the period volume of own capital.

own a gain from realisation


for the period size
the capital

This indicator characterises various aspects of activity from the commercial point of view it defines either surpluses of sales or their lack with financial - speed of a turn of enclosed own capital with economic - activity of money resources which proprietors of the enterprise shareholders the state or other proprietors risk.
If the factor is too high that means considerable excess of a break-even sales level over the enclosed capital it involves increase in credit resources and possibility of achievement of that limit when creditors participate in business more than proprietors. In this case the relation of obligations to own capital increases decreases safety of creditors and the enterprise can have the serious difficulties connected with reduction of incomes. On the contrary the low factor means inactivity of a part of own means. In this case the factor specifies in necessity of an investment of own means for other source of the income more corresponding to given conditions.

In our case this factor has made 2 4. The Break-even sales level exceeds the invested capital more than twice. Considering that the enterprise in the accounting period has increased use of extra means it is possible to tell about decrease in safety of creditors and about possible difficulties at the enterprise which can arise at income reduction.
6. the invested capital - shows speed of a turn of long-term and short-term investments of the enterprise including investments into own development. In numerator - a pure gain from realisation in a denominator - average for the period size of the invested capital.

invested a pure gain from realisation


for the period size
the capital

Values of this factor are useful for comparing to values for the same period of factor the functioning capital. At the analysis of these factors in dynamics it is possible to see how much faster or more slowly the capital deduced for a while from industrial activity in comparison with the capital involved in manufacture turns around. At more detailed analysis it is necessary to consider structure of the invested capital.

Apparently from balance in comparison with the functioning capital the invested capital is much less therefore its speed very high also makes 2137 3 times for the period.
7. Speed of a turn of the permanent capital defines the factor received by division of volume of a pure gain from realisation on average for the period size of the permanent capital.

permanent a gain from realisation


for the period size
the capital

This factor shows the capital which is in long-term using at the enterprise how much quickly turns around. The essence of values of this factor is similar to an indicator own capital with that only a difference that at the analysis of this factor it is necessary to consider influence of long-term obligations of the enterprise.

In our case the permanent capital it is equal 2. Smaller value of the given indicator in comparison with own capital is caused by increase in long-term obligations the enterprise took the credit for term more than a year
8. the functioning capital pays off under the formula where numerator - a pure gain from realisation in a denominator - average for the period size of the functioning capital.

functioning a pure gain from realisation


for the period size
the capital

Analyzing values of this factor it is possible to see delay or acceleration the capital directly participating in industrial activity. Received values of this factor are cleared in comparison with an indicator of the general actives from influence of investments of the enterprise which do not render direct influence on realisation volume except for investments into own development.

As enterprise investments are very small the functioning capital practically does not differ from the general actives and is equal 0 87.
9. The index of business activity characterises efficiency of business on enterprise primary activity for the period in sphere of management of a working capital. Pays off by means of multiplication of values for the analyzed period a working capital without short-term investments on profitability of primary activity.

business x the basic

Values of this factor in dynamics reflect growth or decrease in business activity of the enterprise in enterprise basic activity.
pic

The index of business activity is equal in our case 0 0073. As we analyze only one period of activity of the enterprise it is impossible to analyse dynamics of this factor.

PROFITABILITY

Profitable work of the enterprise is defined by profit which it receives. For the profitability analysis in the program two groups of factors of profitability pay off profitability of the capital and profitability of activity.

PROFITABILITY OF THE CAPITAL

Factors of group of profitability of the capital show how much effectively the enterprise uses the capital with a view of profit reception.

. - Average for the analyzed period size

1. Profitability of all actives on balance profit is most the general indicator. The given factor shows how many monetary units is involved by the enterprise for reception of rouble of profit irrespective of a source of attraction of these means. Value of an indicator pays off division of balance profit into average for the period size of cost of all actives.

all actives on balance profit
profits

for the period size of all actives

On our data this factor has made 0 00065 i.e. on each enclosed rouble of all actives we receive 0 00065 roubles of profit.

Comparing the above-stated factor with factor of profitability of all actives on net profit 2 it is possible to reveal influence on profitability of tax deductions and other payments from profit i.e. to define rigidity of a fiscal policy of the state and local authorities. As a result this indicator has made 0 00045. In this case at us very low profit and influence of taxes practically does not affect its size.
However with increase have arrived influence of taxes will increase thus the sum of taxes and obligatory payments makes approximately a quarter from balance profit.

all actives profit
net profit

for the period size of all actives

3. The indicator of profitability of own capital defines efficiency of use of means of the proprietors enclosed in the enterprise allows to compare to the possible income of an investment of these means in other enterprises securities serves as the important criterion at an estimation of level of stock quote at a stock exchange. The factor pays off by division of balance profit into average for the period size of own capital. On our data it makes 0 0018. As well as with the previous indicators profitability of own capital is less than 1 percent that speaks about very low investment appeal of the enterprise.

profit



for the period size of own capital

Useful reception during the analysis is comparison of profitability of all actives and profitability of own capital. The difference between these indicators is caused by attraction by the enterprise of external sources of financing. If the enterprise by means of attraction of the extra capital receives more than profit than should pay percent on this extra capital the difference can be used for increase of return of own capital. However in the event that profitability of actives is less than the percent paid on the extra capital influence of the involved means on enterprise activity should be estimated negatively.

4. By means of factor of profitability of a working capital the sum of balance profit earned by each rouble of a working capital pays off. Quantitative values of factor at the analysis in dynamics show changes in efficiency of its use by the enterprise. In numerator the sum of balance profit in a denominator - average for the period working capital size is reflected. In our case on each rouble of a working capital the enterprise has earned 0 004 roubles have arrived that also is very low indicator.

profit
the capital

for the period working capital size

5. Profitability of investments shows how much effectively the enterprise conducts investment activity except for investments into own development. The factor pays off under the formula where numerator
- The sum of incomes under securities and from individual share in joint ventures a denominator - the sum of average values during long-term and short-term financial investments. According to balance the enterprise for the accounting period has no incomes under securities and from individual share.
investments in under securities and from share
the enterprises

for the period size
and short-term
investments and securities

6. The factor of profitability of the permanent capital shows what profitableness of use of all capital of the enterprise which is in its long-term using. Value of factor is defined by division of volume of balance profit into average for the period size of the permanent capital. As a result profitableness of use of all capital of the enterprise makes 0 0015. Low value of this indicator also is caused by very low profit.

profit
the capital

for the period size permanent

7. The fullest representation about profitability of industrial activity of the enterprise gives factor of profitability of the functioning capital. It is defined by the relation of volume of result from production realisation to average for the period to size of the capital directly occupied in industrial activity. In our case very big cost price of realisation of production conducts to low result from realisation. In a consequence of it profitability of the functioning capital has made 0 0073.

functioning from realisation


for the period size
the capital

Is of interest to compare values of factors of profitability of the functioning capital and investments. If value of an indicator of profitability of investments there are more than values of profitability of the functioning capital it is possible to draw a conclusion that it is more favourable to enterprise to carry out investment activity rather than to be engaged in manufacture and production realisation.

PROFITABILITY OF ACTIVITY

Factors of group of profitability of activity allow to estimate profitableness of all directions of activity of the enterprise. They pay off according to the report on profits and losses.

- Codes of lines by accounting balance of the enterprise by form N 1

1. The factor of profitability of all operations on balance profit shows how much effectively and profitable the enterprise the share of balance profit in incomes conducts the activity in all directions and what. Factor calculation is made under the formula where numerator - volume of balance profit a denominator - a pure gain from realisation plus incomes of other realisation and from operations.

According to the report on financial results this indicator is equal
0 00074. I.e. a share of balance profit in incomes very low. It is necessary for enterprise to lower costs or to increase the price for production that considerably will increase its profit.
all operations on profit
profits

a gain from realisation incomes
other realisation incomes from
operations

2. The factor of profitability of all operations on net profit in comparison with factor of profitability of all operations on balance profit shows pressure of a tax press upon incomes of the enterprise from all directions of activity and also net profit level in incomes.
Calculation is made under the formula where numerator - net profit volume a denominator - a pure gain from realisation plus incomes of other realisation and from operations.

Here also as well as in the previous case very low value of an indicator equal 0 00052 turns out. By analogy to indicators of profitability of all actives on balance profit and profitability of all actives on net profit it is possible to tell about insignificant influence of taxes.
But it is only a consequence of low profit.
profit
operations on
profits

a gain from realisation incomes from other
incomes from operations

3. Profitability of realised production to expenses for its manufacture defines efficiency of the expenses made by the enterprise on manufacture and realisation of production. The factor pays off by means of the relation of volume of result from realisation to the sum of expenses for manufacture of realised production.

In our case profitability of realised production to expenses for manufacture very low about 1 percent. All it grows out of a small difference between the cost price and by production realisation.

realised from realisation
to expenses on


on manufacture
production

Dynamics of factor can testify to necessity of revision of the prices or strengthening of the control of the enterprise behind the cost price of realised production.

4. The factor of profitability of primary activity shows profitability of primary activity of the enterprise cleared of other incomes and results that allows the user to define efficiency and to plan receipt of balance profit on primary activity. The factor pays off by means of division of volume of result from realisation on volume of a pure gain from realisation.

According to the annual reporting this factor has made 0 0084. Low profitability of primary activity does not allow the enterprise to expand the manufacture and the organisation profit can cover its promissory notes only partially.
primary activity from realisation

a gain from realisation

5. Profitability of other operations defines efficiency of activity of the enterprise for directions not connected with primary activity. The factor pays off by division of volume of result from other realisation and from operations on incomes of other realisation and from operations.

other operations from other realisation and from
operations

from other realisation and from
operations

Represents doubtless interest to compare values of factors of profitability of other operations and profitability of primary activity and to define what directions of activity are more profitable for the enterprise.

On the other operations which have been not connected with primary activity at the enterprise only one expenses i.e. here organisation activity is completely unprofitable.
pic

6. The net profit indicator pays off under the formula where numerator
- The sum of volumes of amortisation of the basic means and non-material actives plus net profit a denominator - a pure gain from realisation of production plus incomes of other realisation and incomes from operations.

the net profit amortisation and net profit
copeck rbl.

a gain from realisation

The net profit indicator is equal 0 13. It means that from rouble of a pure gain and other incomes the enterprise receives 13 copecks of net profit. Comprehensible value of this indicator is reached basically at the expense of the added amortisation instead of at the expense of net profit.

At the expense of net profit in .
the net profit received profit
the net profit account

amortisation and net profit

At the expense of net profit the enterprise receives 0 4 of the income.

At the expense of amortisation in .
the net profit received
the amortisation account

amortisation and net profit

At the expense of amortisation our enterprise receives accordingly 99 6 of the income.

This group of indicators allows to estimate possible free financial resources of the future periods and shows how many copecks of net profit from rouble of a pure gain from realisation of production and from other incomes the enterprise receives.

Is of interest to analyse at the expense of what basically the net profit is received at the expense of net profit or at the expense of amortisation. If in a pure gain of the enterprise the big share is made by depreciation charges it is possible to draw a conclusion on an inefficiency of its work.

The conclusion

By results of the enterprise analysis it is possible to draw a conclusion on very low profitability and necessity of revision of many aspects of its business activity in particular reduction of costs and revision of a price policy.
Since data of the annual reporting have been abstracted from reality we in accuracy do not know than the enterprise is engaged therefore it is heavy to tell what factors of the external and internal environment influence results of its activity.

Coming back to the introduction it is possible to add also that application of personal computers lifts the economic analysis on higher step. The new possibilities which have opened for the analysis are caused by exclusive features of the personal computer low cost high efficiency and autonomy of use presence of the developed software a dialogue operating mode etc. Application of computers allows to raise really labour productivity of the economist the bookkeeper the planner and other experts at the expense of decentralisation of process of the automated processing of the economic information combining directly on a workplace of their professional knowledge with advantages of electronic processing of the information.

The tendency of integration of software products among themselves since the most simple and widely used means of processing of the information
Spreadsheets control systems of databases and finishing especially specialised programs for carrying out of the economic analysis allows to connect process of the analysis of arriving data in one stream avoiding thus alienations of the information from the direct user and giving to it possibility most to influence this process and to make corresponding decisions.

The literature list

1. Bakanov M. I Sheremet A.D.Teorija of the economic analysis.

Finance and statistics 1997.

2. Balabanov I.T.Analiz and planning of the finance of the managing subject. the Finance and statistics 1998.

3. Kovalev V.V. The financial analysis Management of the capital. A choice of investments. The reporting analysis. 2 . the reslave. And .

Finance and statistics 1997.

4. Negashev E.V. the Analysis of the finance of the enterprise in the conditions of the market the Manual. the Higher school 1997.

The appendix 1

Accounting balance

The appendix 2

The report on financial results

The appendix 3

The expenses made by the organisation

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De 700milhoes...para 1500 milhoes...

7DayDetective: Tips to Recognize a Valentine's Cheater

Thanks, Larry!
On October 27, Larry McDonald posted an article on saving money by defending yourself against traffic tickets, rather than paying an agent several hundred dollars to represent you.

The following evening, I was pulled over by a policeman and given a number of tickets for administrative matters. I can't be too specific, but it was a pretty expensive evening. Worst of all, the convictions would disqualify me for my current hallowed status with my car insurance provider, and would lead to increased premiums for years to come. This seemed manifestly unfair to me, since I believe my poor administrative skills have no bearing whatsoever on my actuarial risk.

My first thought was not to take chances: to hire an agent to represent me and get the convictions dropped; but after reading Larry's article, I decided to go it alone.

Early in January, attended my appointment with the prosecutor, and with a wave of her pen, my life got a whole lot easier.

I saved myself four convictions, three demerit points, and over $500 in fines, all at no cost besides my time.

Thanks, Larry!

Home loan business by Tata Capital to start by March
Tata Group's financial services arm Tata Capital, which is raising Rs 500 crore through a debenture issue, is expected to start its home loan business by March this year.

"We have applied to the National Housing Bank (NHB) and are awaiting its clearance. If we get the approval we will launch the home loan business by March," Tata Capital Managing Director and CEO Praveen P Kadle said here.

The company had applied to the NHB a couple of months back, Kadle added.

In August last year, Tata Capital had announced its plans to enter the home loan business.

Recently, Anil Ambani Group firm Reliance Capital had received approval of the NHB for setting up a housing finance subsidiary, which would be in place in the next two months.

financial stock guide
Investors appeared to be taking positions in UACN Property Development Company (UPDC) Plc ahead of what many analysts expected to be a major upswing in profitability and returns this year.
UPDC beat the odds and led the advancers at the Nigerian stock market last week as a bearish resurgence saw 83 per cent of stocks on the price movement chart on the downside.
UPDC rallied N2.30 to close at N26.80 per share, about 7.6 per cent below its highest price of N29 this year, a differential that placed UPDC as one of the most resistant stocks to the sustained bearishness at the Nigerian Stock Exchange (NSE).
The All Share Index (ASI), the benchmark index of the Nigerian stock market which measures changes in the prices of all companies quoted on the NSE, dropped by 8.5 per cent last week. The year-to-date return of ASI is currently above -40 per cent.
With most stocks ahead of the ASI, investors are taking shelter in stocks that have so far resisted the free fall and panic at the NSE.
Latest operational report of UPDC, a subsidiary of UAC of Nigeria and the only quoted real estate company, showed that the company has continued to efficiently optimize opportunities created by the shift of attention to the real estate market by panicky investors, who had burnt their fingers in the equity market.
With 228 per cent growth in net earnings per share, third quarter report of UPDC for the period ended September 30, 2008, has brightened prospects that the company might double cash payouts to pass down significant growths in sales and profit to shareholders.
UPDC has in recent years showed strong tendency towards rewarding shareholders through increase in cash payouts. The company had braced its generally sluggish performance in 2007 to increase cash payouts by 40 per cent, with a dividend per share of 49 kobo. UPDC had also in the previous year increased cash dividends by 40 per cent to 35 kobo per share for the 2006 business year compared with 25 kobo per share paid for 2005 business year.
Nine-month operational report of UPDC showed that turnover rose by 124 per cent from N4.1 billion in third quarter 2007 to N11.15 billion by September 2008. Profit before tax also leapfrogged from N1.16 billion in 2007 to N3.82 billion in 2008, indicating an increase of 229.6 per cent. Net earnings stood at N2.6 billion by third quarter of 2008, representing an increase of about 230 per cent on N788.24 million recorded in corresponding period of 2007.
The nine-month report underlined appreciable improvement in the underlying profitability of the real estate company, which pre-tax profit margin grew by six percentage points to 34.3 per cent by third quarter 2008 from 28.3 per cent in comparable period of 2007.
The third quarter report also strengthened the hands of pundits that see another major increase in cash payouts by the company this year. UPDC’s net earnings per share tripled to N2.36 by September 2008 as against 72 kobo recorded in similar period of 2007.
Already, the third quarter report placed the company ahead of its full-year sales forecast while it almost achieved its 12-month profit target in nine months.
The board of UPDC recently said UPDC’s gross income was expected to cross double-digit to N11.1 billion by the year end while net earnings could hit N2.9 billion. Market analysts said the current outlook of the company indicates an imminent major break from the slow and rather sluggish performance trend in the previous years. Audited report and accounts of UPDC for the year ended December 31, 2007 showed a pre-tax profit margin of 25 per cent, the same rate recorded in 2006 indicating that the company made N25 profit on every N100 sales in each year.
The report however showed marginal growth of 3.7 per cent in actual pre-tax profit to N1.42 billion in 2007 as against N1.37 billion in 2006. Profit after tax meanwhile increased by 11 per cent from N966.11 million in 2006 to N1.07 billion in 2007. Turnover stood at N5.68 billion in 2007, about 3.5 per cent increase on N5.48 billion recorded in 2006.


Chevron falls over acquisition blues

By Friday Atufe
Chevron Oil Nigeria Plc has continued to contend with excess supply of its shares on the Nigerian Stock Exchange (NSE) because of on-going controversy over the sale of its 60 per cent shareholding to MRS Holdings Limited, Petroci Holdings and Corlay Global SA. It led on the loser’s table last week by N26.03 to close at N240.97 per share. Chevron share price had hit N441.00 in the wake of the sale of the shares to the new core investors.
Investors exchanged 132,121 shares valued N32.4 million in 56 deals during the review week.
The major opposition to the acquisition is Zenon Petroleum and Gas Limited which hich owns 19 per cent shareholding in the company.
A Federal High Court in Lagos recently restrained seven banks that planned to finance the acquisition.
The banks are Union Bank of Nigeria Plc, Zenith Bank Plc, Oceanic Bank International Plc, Platinum Habib Bank Plc, First City Monument Bank Plc, Fidelity Bank Plc and Ecobank Plc.
The company began marketing petroleum products in Nigeria in 1913. Though its brand names may have changed over time, Chevron has continued to market quality products through service stations, terminals, kiosks and has ventured into the aviation and bunkering segments as well. Over the years, the company has also become a leading producer of quality lubricants, greases, petroleum jelly and plastic containers.
Following the promulgation of the Nigerian Indigenisation Decree of 1978, which was designed to raise the level of Nigerian participation in business, the parent company divested 40 per cent of its shareholdings to the Nigerian public while retaining 60 per cent equity in Chevron Oil Plc.
Chevron Oil Nigeria operates a terminal and several manufacturing and storage facilities. The company also owns and operates more than 300 Texaco-branded retail service stations, and 203 third-party-owned outlets to which the company supplies Texaco fuels. Apapa, in Lagos, has become the hub of the company’s operations in Nigeria, with a blending plant capable of producing 250,000 barrels per year, a 74,000 barrel base oil storage facility and a five million kilogram per year grease plant.
In 1996, the company built its 103,000-barrel state of the art storage terminal and loading gantry in Apapa. It also has a modern aviation facility at Ikeja International Airport in Lagos, with three million litre capacity and a 700,000 million litre facility in Kano.







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Are you a frequent traveler or you are looking for a credit card, allowing you to travel? Well, did you know that an airline based credit card you can save more than just with the airline? Well, it's true, and I will show you some ways that you can save on more than just flights.

Save with hotel accommodation - The cool thing that I know about the airline, such as credit cards are sure to get more than just the airlines, but you can stay in hotels and save too. Depending on which airline you are through, they in most cases a partnership with a hotel. Airline with the most cards, you usually get x amount of points for every dollar you spend with an airline and if you have this card with a hotel company, you get x amount of points. These are usually higher than the 1 point per dollar.

Save with car rentals - The same goes with the car hire if your card. You can not just hotels and save your flight, you can leave your car to rent. Some credit cards allow you actually to a certain percentage off before you book your car. As long as you book by using your credit card, you can use the savings.

If you want to know how much you can save, you can take a look at this situation. If you have 25,000 points for a free flight and you will receive 6 points per dollar for a hotel stay and 3 points for a car to travel, you can see how quickly those points up. 25,000 sounds like a lot, but they can be fast!

 

Find airline miles credit cards and more of Tom's work all at FINDairlinecards.com.

Article Source: http://EzineArticles.com/?expert=Tom_Tessin

Protecting your personal finance

If you took part in a sport and you got injured would you be able to meet your financial outgoings? This easy question is something that you need to think about before you playing a sport that could culminate in you getting injured. The thought of playing sports is less appealing if you think about getting injured. You should think carefully as to whether or not you could meet your bills prior to playing sports.

What injuries would result in you not being able to participate in sports? A typical injury amongst those that play football is that of an injury around the knee joint. This is due to the fact that football involves lost of twists and turns and this puts impact upon the knee joint. If you played football regularly and then you couldn’t play as consequence of injury would you still be able to pay your outgoings?

If you got a sports injury and you had some form of financial protection in place, would you then have enough to pay your bills? The thing to do to work this out is to think about what bills you have leaving your account at the present time, prior to you getting injured. If you were then unable to work would you be able to meet those bills accordingly. If you had a sports insurance policy in place you would have the financial protection offered by the sports insurance company.

Sports insurance is similar to lots of other income type protection policies that are availed. The principle behind it is that if you got injured playing sports, you would subsequently be able to get your finances covered whilst you were out with your injury. Depending on the length of time injured, it could be help particularly if it was for 6 months or more.

Another aspect of sports insurance protection that could be helpful for you is that of the dental costs that would be paid out if you got injured playing sport. Imagine the pain of having to have treatment on a broken tooth if you got hit playing rugby or football. With sports insurance you will get the majority of the dental cost paid as this is standard with most sports insurance policies.

Sports Insurance is a policy that, if you are a frequent footballer or indeed any sports for that matter, something that you may need to think about having. For a small monthly payment you would get access to a number of different packages. With most insurance, the more you pay, the better the return. A smaller monthly package would not give you the same rewards as a costly package, and the majority of people would require this.

Insurance for Sports is a sports insurance information and news website where you can find all information pertaining to sports, sports insurance and sports information.