Saturday, January 25, 2020

Analysis Of The Financial Report Of Burberry Finance Essay

Analysis Of The Financial Report Of Burberry Finance Essay In this section we are considering the Annual Report 2009-10 of Burberry and will compare Burberrys performance in this year with the previous years. When financial year 2009-10 started i.e. April 2009, Burberrys main issues of concerns were weak and highly uncertain consumer spending environment (because of prevalent recession). Following which groups main goals were established: Expense Reduction Working Capital Management Indeed, they succeeded up to a remarkable level under most strategic, operational and financial measures. Performance of Burberry was among the best relative to its peers either public or private. Highlights of Burberrys important strategic and operational decision in 2009-10:  £50 M cost efficiency program-helped in reduction of Cost of Sales Upgrading wholesale distribution and restructuring the operations in Spain To maximize Gross Margin, continued to reduce assortment size across categories-resulting in increased Gross Margin from 52.1 % to 59.7% Improved inventory management- inventory reduced 36% over year Added 21 stores with 9% space extension These mentioned decisions helped Burberry perform strongly in 2009-10 and resulted in improved financial strength. Key financial strengths during the period are: Total revenue growth 7%- Revenue  £1.3bn Adjusted operating profit increased 22%  £220M increase Diluted adjusted EPS increased 16% to 35.1p Financial Ratios: Financial ratios are widely used be managers, shareholders, creditors and analysts for all kind of purposes. Firth (1975) proclaimed that these can be used for two purposes. These are: To compare companys latest performance with its performance in earlier periods To make comparisons with corresponding ratios of other firms Following is an analysis of the companys financial ratios and a comparison with the preceding year and its peers: Profitability Ratios: Return on Capital Employed (ROCE): Formula: Net profit before tax/ (All shareholders fund + long term debt) Significance: Profits earned from the two major sources of finance for the company viz. investment by shareholders- shareholders fund and financial institutions mostly- long term debt. The effectiveness of the management in utilising the funds is indicated by ROCE. The return for the FY 2009-10 is 26.03%. It shows a significant change when compared to the previous years return of NEGATIVE 2.78%. A quick glance at the operating profit for the last two years reveals the reason behind such a big leap forward. The company has performed tremendously in the last financial year. From an operating LOSS of  £9.9M for the year ended 31 March 2009 to a significant operating PROFIT of  £171.1M for the year ended 31 March 2010, shows the efficient and effective measures the company had adopted over the year. Even if the comparison is made between adjusted operating profits (after considering the exceptional items) for the last two years, we can see a significant difference of  £39.1M (219.9-180.8). All of this shows that the business is effectively earning on shareholders fund and long term debt generated. Ratio Formula Significance Net margin Net profit before tax/ Total revenue The net profit percentage on the entire revenue earned for the financial year Gross margin Gross profit/ Total revenue The gross margin percentage on the revenue earned for the financial year It is the one of the most commonly used profitability ratio. It shows the net margin with respect to the amount of sales. In 2010 it got increased from -1.34% (2009) to almost 13%. In 2009, Burberry reported negative profit i.e. loss. Main reasons behind this were: High Cost of Sales in 2009 (12.5 % higher than 2010) Higher operating cost (6.71%)in 2008-09 which was mainly because of Goodwill impairment in global market(mainly Spain)  £116.2 million Relocation of headquarters Store impairment and onerous lease provisions Increase in NPM shows that Burberry has controlled its costs effectively in 2009-10. It demonstrates effectiveness of Burberry at converting sales into actual profit. Gross Margin: There is an increase from 55.41% (2009) to 62.82%. It shows that Burberry has increased its gross profit by 7.4 p per  £1 of turnover. It is because of higher sales and low cost of sales in 2010. Sales Growth: Formula: (Present sales- Previous sales) / Previous sales Sales increased from  £1200M (2009) to  £1280M (2010) i.e. an increase by almost 7%. Adapted: Burberry Annual Report 2009-10 Sales growth is one of the KPIs. The above graph shows the revenue earned by Burberry in the last five years. The overall growth shows the increasing trend followed by the company in spite of its macro-economic conditions. This proves the companys ability to capture the market being a luxury brand. Liquidity Ratios: They show the companys ability and the ease with which it can lay its hands on liquid cash. In other words, these ratios signify the liquidity position of the company. The main components of these ratios are the current assets and current liabilities which are also the factors that determine the working capital of the company. Current Ratio: Formula: Total Current Assets/ Total Current Liabilities This is the one of the best known measures that indicates the liquidity position of the company. There is an increase in Current Ratio in 2010 as compared to 2009 which indicates that Burberry has improved its ability to meet the payment schedule of its current debts. The change from 1.36:1 in 2009 to 1.53:1 in 2010 shows the efficiency in working capital requirements. Having current assets equivalent to 1.53 times of current liabilities shows a moderate approach from the management not being too aggressive by holding less current assets nor too conservative by holding more current assets leading to high opportunity cost. Quick Ratio/Acid Test: Formula: (Total current assets-stock)/total current liabilities It measures companys ability to meet short-term obligations with its most liquid assets. An acceptable ratio should be at least 1:1. However in 2009 it was .87 which is not sufficient. An increase from .87 to 1.2 over a period of one year demonstrates that Burberry has stronger liquidity position than it had before. Shareholders POV: Collier (2009) state that Dividends are a decision made by directors on the basis of the proportion of profits they want to distribute and capital needed to be retained in the business to fund growth. (p.114) Shareholders invest in a companys stock with the motive of higher returns through dividends or capital gains. The idea of investing in the shares of a company may give higher returns compared to the other secure investments like bank. However, the risk is also more. The investors measure the prospects of a stock under various scales. Few of them are as follows: Dividend per share (DPS): Formula: Dividends paid/ number of shares Often DPS is the measure of a companys performance because it indicates how profitable a company is over a period of time. In Burberrys case, its excellent performance is reflected through the increase in the dividend per share paid to shareholders. As at 31st march 2010, Burberry had 435,024,782 ordinary shares, of which 77,215 were held as treasury shares, shares that have been bought back by the issuing corporation and is available for retirement or resale; it is issued but not outstanding; it cannot vote and pays no dividends. ( As per annual report, Burberry has proposed dividend of  £45.7M, which is 20% higher than last year ( £37.7M). This increases its dividend per share to 10.5p from 8.65p. It also increased interim dividend, which is declared and distributed before the calculations of companys annual earnings, per share slightly from 3.35p to 3.50p during year. So, the total dividend per share is 14p for the year ending 2010 giving a 17% increase from 12p in 2009. Dividend Yield: Formula: Dividend per share/ market value per share It shows the relationship between dividends and market share by expressing a companys dividend as a percentage of its share price. However, dividend yield fluctuates with share price. Burberrys shares price was 276.25 on 27 March 2009 and 725.00 on 1 April 2010. ( Using its share price value at financial year end, dividend yield is 1.93% in 2010 and 4.3% in 2009. This need not represent that Burberry has decreased its value in investors eye. This fall is because of 163% increase in share price of Burberry, which made increase in dividend less significant. Dividend Payout Ratio: Formula: Dividend paid / (profit after tax i.e. net income) or the ratio of dividend per share and earnings per share. It helps in predicting how well earnings support the dividend payments. Investors seeking high current income and limited capital growth prefer companies with high Dividend payout ratio. However investors seeking capital growth may prefer lower payout ratio because capital gains are taxed at a lower rate. ( For 2010: it is 14/36 = 38.88 % 2009: 12/31= 39.2% It is almost similar in both years, which shows that Burberry is maintaining the balance between interest of shareholders and expansion of business. Earnings per share (EPS): Formula: profit after tax or net earnings/ number of shares Burberry calculates EPS on the basis of both diluted and basic. When all convertible securities such as convertible preference shares, convertible debts, convertible debentures and warrants exercised; number of outstanding shares increases. This is called Diluted weighted average number of shares, the basis of Diluted EPS. As number of outstanding shares increases, Diluted EPS is always lower than Basic EPS. It is more accurate to use a  Diluted EPS over the reporting term; because the  number of shares outstanding can change over time (We can observe this in annual report that Burberry has always mentioned diluted EPS). In 2010, Diluted weighted average number of shares was about 442 million with dilution effect of 9.3 million. In 2009, it was 438.1 million with dilution effect of 6.8 million. Earnings were  £81.4 million in 2010 as compared to loss of 6 million in 2009, because of reasons mentioned before. This leads Basic EPS to 18.8p (-1.4% in 2009) and Diluted EPS to 18.4p (-1.4% in 2009). Using details of exceptional items in note 4 of annual report 2009-10, adjusted earnings are  £155.2million and  £132.1 million for 2010 and 2009 respectively. This leads to Adjusted Basic EPS to 35.9p (30.6p in 2009) and Adjusted Diluted EPS to 35.1 (30.2 in 2009). Increase in Adjusted Diluted EPS by 17 % is mainly because of 17 % increase in adjusted profit as weighted number of shares is almost same. This increase represents better performance of Burberry in 2009-10. Price-Earnings (P/E) Ratio: Formula: Market value per share/ EPS It is the valuation of companys current share price compared to the per share earnings. This ratio reveals the popularity of a stock because it reflects how much people are willing to pay for it ( The P/E ratio can be interpreted as number of years of earnings to pay back purchase price, ignoring the time value of money ( For 2010 P/E ratio is 725/35.9= 20 and for 2009 it is 276/30.1= 9.2 There is almost two times increase in P/E ratio. This is because of increase in share price by 163%. This increase makes Burberrys stock more attractive than previous year. Bottom line: The above analysis from a shareholders POV leaves an overall positive impact on the investors or the potential investors. Considering the shareholders return, profitability, growth rate the company has been maintaining and the increasing trend in the share value, it would be more than likely a wise decision to invest in the Burberrys stock. Gearing effect: Tools used: Gearing ratio: long-term debt/ (shareholders funds + long-term debt) This ratio gives the proportion of funds which is borrowed from outside in the entire capital employed, than from the shareholders (through issue of shares). This is also called the leverage ratio. The method of introducing debts in place of equity is referred to as trading on equity leverage Collier (2009) states that Higher the gearing, higher is the burden on repaying the debts and the associated interest. Also, if profits turn down, there are substantially more risks carried by the highly geared business. (p.108) However, there is a relationship between risk and return which is to be analysed. Higher proportion of long term debt signifies two issues: Higher return for shareholders Less tax burden Burberry in 2009 has a gearing of 52.72%. For the year ending 2010, it is 43.06% i.e. 56.94% of equity. This shows that their almost half of the sources of finance is through long term borrowings. The effect of generating finance through debts than through equity is shown on the return the shareholders are enjoying. It also shows the company has been closely monitoring tax burden. This is because the provision made for the interest obligation/payment is reflected in reducing the profits, thereby a lower tax on lower profits. However, the debts carry with them the interest obligation and repayment commitments. This way the company has been trying to balance between debt and equity. In the financial year 2009-10, the company has reduced its debt content trying to be a little conservative. The capital structure can be considered to be moderate. Interest cover: Profit before interest tax/ interest payable This represents the profit available, to meet the interest obligation, in terms of the interest payable (number of times). Higher interest cover leaves less strain on the profits and giving a cushion with profit AFTER interest and before tax. Profit before interest and tax: Interest payable: For 2010:  £171.1M  £6.2M For 2009:  £ (9.9) M Loss  £13.4M Interest cover for the year 2009-10 is 27.6 times. This is a highly impressive cover leaving a comfortable position. Considering the loss in the previous year and still maintaining this is very efficient. The decrease in interest commitment this year can be related to the reduction in the debt content of the capital structure (gearing ratio). Financial Risk Management Overview: Burberry deals with variety of financial instruments viz. derivatives, short term and long term borrowings, trade receivables/payables etc. It also combines with variety of financial risks. However, the risk management is carried out by a dedicated Group Treasury under the approval of Board of Directors. Guidelines/ Tools: To reduce the financial risk and ensure sufficient (OPTIMAL) liquidity position Work closely with the business requirements Uses derivative instruments to hedge certain risk exposures Market Risk: Foreign Exchange Risk: Risk: Multiple foreign currency transactions because of international operations Tools/Policies: Entering into forward foreign exchange contracts Hedge anticipated cash flows in each major foreign currency Monitor the desirability of hedging the net assets of the overseas subsidiaries when translated into Sterling for reporting purposes. At 31 March 2010, the Group has performed sensitivity analysis to determine the effect of non-Sterling currencies strengthening/weakening. Price Risk: Risk: Fluctuations in employers national insurance liability due to movements in the share price. Tools/Policies: Entering into equity swaps at the time of granting share options. Monitor the fluctuations in the liability on a continuous basis. Cash flow interest rate risk: Risk: Fluctuations in the interest rates. Tools/Policies: Use interest rate swap derivatives to manage fixed and floating rate borrowings within limits. Credit Risk: Risk: Possible bad debts. Tools/Policies: Wholesale sales only with appropriate credit history/check. Retail sales only through cash or major credit cards. Maximum credit risk exposure is classified separately and attended. Liquidity Risk: Risk: Maintaining sufficient cash balance. Tools/Policies: Maturity profile is established All short term creditors, accruals, bank overdrafts and borrowings within one year. Compliance with all the committed banks credit guidelines. Capital Risk: Risk: Returns to shareholders and other stakeholders; Maintain Going concern. Tools/Policies: Maintain strong credit rating. Appropriate capital structure mix debt and equity. Adjustments according to the economic changes and its strategic objectives. Analysis of the above: All of the above represents the measures adopted by Burberry to meet the Financial Risks. The company having a dedicated risk management team in order to face the risks gives a confidence in the minds. However, they should be continuously aware of the fact that a large corporate like Burberry will have to attend to growing/new risks by anticipating well in advance. They may include a deeper analysis in the following areas: Working capital cycle: Inventory management, EOQ/JIT methods, optimum cash model. Financing needs. Other sources of finance can be analyzed like debt factoring. Capital budgeting decisions before expanding or investing on a project. WACC Weighted average cost of capital is to be considered before deciding the capital structure. Comparisons with the market rate and interest rates prevailing. The overall financial risk management shows the companys ability to address almost all the possible risks efficiently and effectively. Conclusion: With comparison to most of the essential parameters, it can be concluded that Burberry plc showed a promising performance in the last completed financial year 2009-10. Not just with regard to the financial performance, but also in satisfying the shareholders with competent returns. A birds eye view shows the company has made a great comeback this year with a significant profit. However, a deeper penetration/analysis into the last year financials reveals that the loss made in 2008-09 is because of high cost of sales with a difference of  £59.8M compared to the recent year, goodwill impairment charge to the extent of  £116.2M, relocation of HQ costing around  £7.9M and other expansion charges. Also, the above report shows the companys transparency in complying with the Corporate Governance and commitment in attending to its Corporate Social Responsibility, employees welfare etc. Burberry showed continuous interest in brand integrity, being a true leader in luxury brands, and market growth through expansion. Indeed, highly motivated. All this leads to only reaffirm the companys continued efforts in excelling beyond horizons among its peers financially, ethically, and morally!

Friday, January 17, 2020

Great Sales People Born or Bred Essay

Great Sales People: Born or Bred Introduction                   Having a well-oiled sales team that can sell a company’s services, reputation, and the brand is the desire of any employer. Asales team is a crucial element that determines customer loyalty to use a company’s product and services over and over. Sales team also plays a role deterring the customers’ choice of which firm to get their money in retune for a satisfying service. It would be erroneous to argue that you cannot improve the personality through training and also illogical to argue that knowledge and skills are inborn that no training or study can enhance it. The controversy on sales success is confined in the falsity that a greater personality can be nourished to make it even better (Forsyth, 2010). Similarly, employers encounter a tough experience training freshmen of the firm’s product and services, to increase their understanding. Such ability to learn about the product relates to the capacity to analyze and learn the minds of clients and improve the power to capture their attention to the products offered by the firm. Sales sector is one critical unit that is directly traceable to the gross output of a firm considering the entire value chain efforts imposed on products and the ultimate user being the customer.                   Just like any other value in the world, the question of personality is a formless, indescribable, insubstantial, and inexpressible ambiguous attribute a sales person could have, but a constructive and definite character of an individual capable of further improvement and through theoretical and practical methods. It is often absurd to stick to the belief that sales persons are entirely gifted insinuating the attributes cannot be acquired by any other means. As Quick (1992) puts it, the idea of purely acquiring the sales skills and knowledge through training is equally dangerous as the â€Å"gift† belief. The history of world achievement by outstanding individuals disapproves these arguments as other have significantly achieved beyond others’ previous achievements by learning new ways of doing things. Sales field is not an exemption especially in today’s dynamic economy where inventions and customized brands are the order of business (Forsyth).                   However, learning about sales is quite expensive and many willing individuals find themselves at the end of the rope before the entire in-service training is finished. Learning by experience is much better than just using past experiences that teaches less or nothing at all. Using personal past experiences is better than using others past experience that makes an individual lag behind by trying to profit from a virtual experience (Johnson, 2000) . It is important to mention that as much as some would learn from experience of others, such a method demands a scientific scrutiny by using facts and figures. Therefore, employers and sale leaders have a duty to spot top sales talents with a strong and commendable background in sales and marketing. Most HR managers possess the view that perfect sales people are born: a person can be trained to perfect the sales skills but the basic drive for success has to exist in a person’s inner being. They have to be aggressive, competitive, and able to handle the hard knocks that come with sales; celebrating and enjoying the passion of the roller-coaster, sales are not exceptional in this field. It is remarkably evident the best sales people have something to prove their achievement: either their career, financially, family or others’ success. A sales professional called Daryl (2013) provides a thought of both aspects of born and bred sale people: in her successful career in financial technology and outsourcing industry, Daryl argues that certain personalities provides themselves to being great sales persons and they only require training to finesse the skills.                   The best known sales people are generally confident do well in dealing with people they meet for the first time, good in team building, dealing with tenacious characters and maintaining acquisitive relationships. These natural abilities when combined with a little training and experience refine their character building great sales persons. Employers are obliged to nature these natural skills, mentoring them and guiding to allow a profitable utilization of the skills in the environment. Those considered as born sellers succeed, but eventually fail for not utilizing the other aspect of breeding. At this level it is right to point that successive selling is achieved by utilizing born sellers’ attributes like confidence, tenacity and passion for promoting a firm’s products and services. Failure is experienced in a case where born attributes have not been bred to dig into customers mind by asking questions to enable them fully understand the kin d of products or service they can derive from a seller. Without training, a customer may perceive the seller as having not fully developed a solid foundation of empathy and trust upon which a client feels should be presented on products and service provision. A sense of equality is offered through questioning a customer about their wants and needs: a feeling of privilege is built upon the process of enquiry creating a mutual satisfaction (Hession, 2001).                   Sellers considered as â€Å"born† have often succeed in their career due to their desire to create a mutual coexistence with their customers, openness, and asking insightful questions aiming to get to the bottom of the matter before the deal is terminated. Therefore, more friendly sellers reassure the customer that their interest are catered for building their trust and understanding driving the customer to even purchase more from the same firm. On the other hand, bred sellers stand a better position to sell or closing the sale due to lack of pushy or selling concern, a different case with â€Å"born† sellers.                   For a person with a desire to excel in sales, they need to top making excuses based on their personality, but start from where they are now. Achieving full potential in this field calls for a positive mindset of learning and progressive development of skills and â€Å"born† attributes that makes greater sales professional. These attributes are only learnt by bold person with the gut to risk their social reputation as they practice it. According to Harvard Business Review (2011), an estimate of 70% of successful sales team has inborn natural instincts that greatly determine their sales career path and success. On the other hand, a 30 percent and below is a group of self made sales persons implying that they learnt from the selling environment without the benefits of natural attributes. More so, the analysis presented a 40 percent of people who enter the sales field without these natural instincts, but later fail or quit. Another 40 percent will per form at an average rate, with the remaining portion performing above the average. It is important to point out that the figures above vary by the type of industry and the nature of products or services sold.                   Based on past studies, the question of discussion should lie on what determines the fate of sales persons without natural traits. It might be simple to mention the obvious factors that lead to success of a sales team like hard work, passion, persistence, empathy, intelligence and integrity, but another set of key factors worth listing are greed, language specialization, modeling the experience, political insight and language power. The most important distinguishing element in the success of a self-made sales person is the language power. More often than not, sales person recite the features and benefits they offer, but finds it had to hold an intelligent conversation about the firm’s daily operations (Bird, 2012). It is paramount that business firms develop their own language to deal with technical issues relating to the daily operation in order to facilitate a mutual comprehensive understanding of meaning of words and terminologies used. A techni cal consist of abbreviations and acronyms used on their products.                   According to Bird (2012), the ability of a sales person to analyze comparable experiences and similar data into expected molds is referred to as modeling of experience. Sales activities involve a continuous consolidation and accumulation of like information from customer interactions and sales calls. From these activities, sales person are able to predict future happenings under similar situations and plan for the right responsive actions. Self- made and successful people stand a better chance of storing, and retrieval of all information that occur during sale cycles and calls. This experience is a better way of learning from experience, by ensuring past mistakes are avoided in future sales activities. A political acumen is another important element in ensuring openness and diverse approach to selling and dealing with customers. Sales is a practice that take s a human nature where, the outcome is determined by people and politics breeding successful sale s team should prioritize on political acumen to effectively determine customers’ motivation and influence to their decision. Greed applies in sales on a different dimension from the normal association with a corrupt character: the term is applied in reference to the desire of a better pay for one’s time. Time is a factor that determines how much a sales person gets at the end of the deals made, and therefore effort should focus on winning as many deals as possible within a limited time. It is the greed that motivates sales person to push hard for a better gain (Bird, 2012). Therefore, a lesser sales person does not possess this trait that act as an inward drive to settle as many deals as they can. Conclusion                   The above variations presents a better opportunity for sales leaders to train their â€Å"born† sellers (considered successful in their own right), by analyzing what a successful and efficient sales force feels, interacts and sounds like considering the strengths and weakness of both types of sellers. According to this analysis, the role of a sales leader includes developing the existing sales team to offer different types of services. Similarly, when recruiting, a leader should identify the candidates with a desire to be nurtured and molded to fit in the effective sales team. A seller needs to be ‘all rounded’, and not only a tradition â€Å"born† seller termed as successful without fully realizing their potential. Many self-made and successive sales persons have learnt to apply their acquired experience a profit5able manner to build their intuition. It is important to understand what counts and spend time on it while navigati ng to powerful decision makers to find a chance to convince them buy from your firm References Bird, T. (2012). Brilliant selling: What the Best Sales People Know, Do and Say. Harlow: Prentice Hall Busines. Forsyth, P. (2010). 100 Great Sales Ideas(New ed) From Leading Companies Around the World. Singapore: Marshall Cavendish. Hession, R. (2001). Drive a Great Sales team for Sales Managers Who Want Results. Oxford: How To Books. Johnson, T. (2000). Effective Sales Management,Hhow to Build a Winning Sales Team. Los Altos, Calif: Crisp. Quick, L. T. (1992). Making Your Sales Team #1. New York: AMACOM, American Management. Source document

Thursday, January 9, 2020

Pride And Prejudice By Jane Austen - 1595 Words

Jane Austen wrote about the world in which women had no rights and no importance outside of marriage. Pride and Prejudice was written in 1813. Romanticism begins around 1789. Their priorities consists of emotionalism, self consciousness, respect for dignity of childhood, an interest in folk culture, and primitive origins for rural life.Pride and Prejudice is a window into the lives of young eighteenth century British women. â€Å"Romanticism reflected a deep appreciation of the beauties of nature. For the romantics, nature was how the spirit was revealed to humankind. They believed that emotion and the senses could lead to higher truths than either reason or the intellect could.† (Phillips, pg. 5) Marriage is the ultimate goal and primary†¦show more content†¦The five daughters are, Lydia, Kitty, Mary, Jane, and Elizabeth. They’re all quite different. Lydia and Kitty are the youngest, very wild, and in a hurry to marry a soldier. Mary is very smart, and doesn’t really care for much that isn’t logical. Jane keeps her feelings and thoughts to herself, though she is close to Elizabeth, she doesn’t tell her everything. Elizabeth is very strong minded and very opinionated on things. Mr. Bingley’s wealth and social prominence make him a good candidate for a young single women. The oldest daughter, Jane, soon finds out that Mr.Bingley enjoys her. Elizabeth Bennet wants nothing to do with the neighbors. Although, she enjoys Mr. Bingley, she finds his family and close friend, Mr. Darcy’s lack of respect. Mr. Wickham intensifies her dislike for the interest in man of Longbourn. Mr. Collins visits the Bennet family. He is a clergyman and will be the inheritor of the Bennet’s house and land upon Mr. Bennett s death. Mr. Collins is in want of a wife and decides to try to marry one of the Bennet daughters, so that any unmarried daughter can still live at the house. Lady Catherine demands him to marry. He obeyed her as usual, and first likes Jane, but Mrs. Bennet tells him that Jane is soon to be married. However, Mrs. Bennet suggest Elizabeth in sake of the family. She refused him, believing that a marriage without love is not worth while. Within a day,

Wednesday, January 1, 2020

Frankenworms Dancing Gummy Worms Science Experiment

Turn ordinary motionless gummy worms into creepy, wriggling Frankenworms in this easy science experiment. Frankenworms Materials Gummy wormsBaking soda (sodium bicarbonate)WaterVinegar (dilute acetic acid)2 glassesScissors or kitchen shears Let's Make Frankenworms! Use the scissors or kitchen shears to cut the gummy worms in half or into quarters lengthwise. You want long, thin strips of worms.Drop the worm strips in one glass. Add a couple of spoonfuls of baking soda and enough water to dissolve some of the baking soda. If all of the baking soda dissolves, add more until some undissolved powder remains.Let the worms soak in the baking soda solution for 15 minutes to half an hour.Pour vinegar into the other glass. Drop a baking-soda-soaked worm into the vinegar. What happens? At first, nothing appears to happen. Then, bubbles start to form on the surface of the worm. The worm starts to move. After some time, the reaction stops and the worm stills. Why Do the Worms Move? The gummy worms wriggle because a chemical reaction between baking soda (sodium bicarbonate) and vinegar (weak acetic acid) produces carbon dioxide gas. This is the same reaction that causes a baking soda and vinegar volcano to erupt lava! The tiny gas bubbles released by the reaction stick to the body of the gummy worms, eventually merging into bubbles big enough to float part of the worm. If the gas bubble detaches, it floats to the surface while that part of the gummy worm sinks back down. Tips for Success If your worms appear dead in the water, you may be able to revive them: See if you can cut the worms thinner. You may wish to ask an adult for help. A thinner gummy worm is a lighter gummy worm and thus much easier to make move. Thin worms absorb baking soda better, too.Try adding more baking soda to the soaking solution or soaking the worms longer. The baking soda needs to get into the gelatin that makes up the worms so that it can react with the vinegar to make bubbles.

Tuesday, December 24, 2019

Economic Development in Urban Areas Essay - 762 Words

Economic Development in Urban Areas Economic change has helped lead America into urban crisis for the following reasons. First of all, because urban problems are no longer confined to the inner city, but are regional in nature. The federal government has, also, largely drawn from the urban policy arena, thereby having cities and sates to develop their own solutions to local problems. Furthermore, the economy of cities is no longer organized around a central business district, but is dispersed throughout a metropolitan region. Next, the national economy has experienced a fundamental reorganization and many cities have experienced the direct effects of deindustrialization and disinvestments. Additionally, the fiscal crisis within the†¦show more content†¦Another problem that is contributing to the urban crisis is the rise of single-parent families and present-orientated values. The problem here is that the divorce rate in America is getting higher and higher, and also the amount of children being had out of ma rriage is greatly increasing also. This creates one parent raising a child. The problem here is that there is no proper care for children in this situation. The parent has too much responsibility. They are to provide for the family, as well as adequately care for their children. When the single parent has to go to work, to get money to pay for a place to live, food, and clothing, there leaves no time to watch and take care of the children, meaning children are left to take care of themselves after school is over, and this results in a lot of problems for the communities. These children cause trouble. They are the ones who commit most crimes in an urban environment. This is why in an urban city there is a lot more crime. There are a lot of children left unsupervised for most of the day and night. Another problem is the ethnic tensions that there are in America. There are many things that are wrong with this. The first problem is that because of racism, people are secluded. They are pushed to all live together, because people dont want to live next to them. This is how a ghetto is started, and slums. All the people of low incomes live in the same neighborhood together. They also contain the high crimeShow MoreRelatedwith reference to examples, discuss the degree to which the level of economic development in a country affects planning and management in urban areas1357 Words   |  6 Pagesï » ¿ With reference to examples, discuss the degree to which the level od economic development in country affects planning and management in urban areas. The type of urban problems that require careful planning and management are largely decided by the economic wealth of a countryside. LEDC countries have problems with rapid urbanisation into the cities. 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Sunday, December 15, 2019

Iga Nephropathy In Kuwait Health And Social Care Essay Free Essays

string(147) " Evaluation of nephritic biopsy slides was performed harmonizing to the Hass categorization of IgA nephropathy \( 8 \) showed ; 25 patients \( 36\." Methods: From all nephritic biopsies done between January 2000 and December 2004 in Mubarak Al Kabeer Hospital, instances of IgA kidney diseases were selected and their medical records every bit good as biopsy findings were reviewed. Consequences: Eighty patients ( 9.2 % of all native kidney biopsies ) were diagnosed to hold IgA nephropathy. We will write a custom essay sample on Iga Nephropathy In Kuwait Health And Social Care Essay or any similar topic only for you Order Now Sixty nine biopsies were included in the survey and eleven were excluded because of presence of any of the exclusion standards or losing clinical informations. Forty three ( 62.3 % ) instances were males, and 26 ( 37.7 ) instances were females. Fifty instances ( 72.5 % ) were below the age of 40 old ages. Average continuance of follow up was 3.6 ±1.3 old ages. The first presentation included nephrotic scope albuminuria ( 49.3 % ) , and nephritic damage ( 50.7 % ) . During the follow up period, 56 ( 81.2 % ) were stable or improved. Hass categorization of biopsies showed ; 36.2 % had Class I, 27.5 % had category II, 13.0 % had category III, 5.8 % had category IV, and 17.4 % had category V IgAN. Females had milder signifiers of the disease than males. Macroscopic haematuria and nephritic damage at presentation were seen more in patients with category IV and V. The presenting serum creatinine and uric acid were higher in those with Hass categories III to V. Deterioration of nephritic map during the follow up period was more important in presence of high blood pressure, nephritic damage and macroscopic haematuria at clip of biopsy. Decision: The incidence of IgAN in Kuwait is approximately 9.2 % . Nephritic damage at presentation and macroscopic haematurias were seen in patients with more aggressive nephritic lesions and property to hapless result. Cardinal words: Proteinuria, IgA nephropathy, nephritic Biopsy, Hass categorization Introduction IgA kidney disease ( IgAN ) was first described in 1968 by Berger and Hinglais. ( 1 ) It is now recognized as the most common primary glomerulonephritis worldwide. ( 2 ) It presents with haematurias and frequently proteinuria. Although a moderate grade of albuminuria is common in patients with IgAN, nephrotic syndrome is considered uncommon in these patients. ( 3 ) The class of IgAN is variable, and 15 % -40 % of patients progress to end-stage nephritic disease over 10-20 old ages. ( 4 ) The pathogenesis of IgAN is complex and non wholly understood. Both environmental and familial factors have been found to be involved in the disease oncoming and patterned advance. ( 4,5 ) Humoral unsusceptibility is believed to play an of import function, characterized by the prevailing mesangial IgA1 deposition and associated secondary inflammatory response. ( 5 ) Curative attempts have been directed at either cut downing or forestalling antigen entry, and changing the unnatural immune response and its effects. However, the appropriate therapy for IgAN remains unsure and healing therapy is still non available. ( 6,7 ) The purpose of this survey was to reexamine instances of IgAN in Mubarak Al kabeer Hospital- Kuwait between January 2000 and December 2004, and to analyze the spectrum of clinical presentation and histopathological findings Method All nephritic biopsies performed in Mubarak Al kabeer Hospital from January 2000 to December 2004 were retrospectively reviewed. Biopsies performed on grownup patients with IgAN were selected and reviewed. Patients were excluded from the survey if clinical or serologic grounds of Henoch Schonelin peliosis, collagen vascular diseases, liver cirrhosis, diabetes mellitus, or other kidney diseases were present. Kidney transplant instances were besides excluded from the survey. Clinical and research lab informations at presentation and during the follow up period and the intervention given were obtained by careful retrospective survey of the infirmary records of each patient. The histopathology glass slides were reviewed and the pathology studies were retrieved from the section of pathology computerized filing system. Each kidney biopsy was prepared by cutting paraffin blocks at 3 um subdivisions and staining 2 slides with peroidic acid schiff, 2 slides for Hematoxylin and Eosin, 1 slide for Jones Methenamine splinter and one slide for trichrome. Immunoperoxidase staining was besides performed routinely on all slides for IgG, IgA, IgM and C3. Antibodies were from Dako and titration was performed harmonizing to the cusps with the antibody phials. Electron microscopy ( EM ) was non routinely done on all instances in the establishment, nevertheless, on selected instances EM was performed and the movies were retrieved and reviewed along with the EM study. Statistical methods: ISSN 1110-0834Numerical variables are expressed as Mean  ± SD. The relation within and between the clinical and the histopathological variables were obtained utilizing ?2 trial or Fisher ‘s exact chance trial for categorical variables and nonparametric Mann Whitney U and Kruskal Wallis trials for uninterrupted variables. P A ; lt ; 0.05 was considered as statistically important. Statistical analysis was performed utilizing SPSS for Windowss version 16 ( SPSS, Inc, Chicago, IL ) Consequence A entire figure of 1575 nephritic biopsies were performed in the institute during the 5 old ages study period. Eight hundred 70 one biopsies were performed on native kidneys, and 704 were performed on transplanted kidneys. Eighty patients ( stand foring 9.2 % of the native kidney biopsies, 5.1 % of the entire biopsies ) were found to hold IgA nephropathy harmonizing to the biopsy consequences. Eleven patients were excluded from the survey because of losing informations or the presence of any of the exclusion standards. Sixty nine patients were enrolled in the survey. Forty three ( 62.3 % ) were males and 26 ( 37.7 % ) were females. The average age at presentation was 35.52 ±10.13 old ages. Fifty patients ( 72.5 % ) were below age of 40 old ages and 19 ( 27.5 % ) were ? 40 old ages. Average continuance of follow up was 3.6 ±1.3 old ages. Cases were presented by either microscopic ( 82.6 % ) or macroscopic haematurias ( 17.4 % ) . Nephrotic scope albuminuria was seen in 34 ( 49.3 % ) instances while non-nephrotic albuminuria was detected in 35 ( 50.7 % ) instances. High blood pressure was detected in 35 ( 50.7 % ) of instances and nephritic damage was detected in 35 ( 50.7 % ) of instances. Fifty Six ( 81.2 % ) were stable or improved during the follow up period. Serum IgA, C3, and C4 degrees were all within the normal mention scope. Patient clinical and laboratory informations were mentioned in tabular array I. Evaluation of nephritic biopsy slides was performed harmonizing to the Hass categorization of IgA nephropathy ( 8 ) showed ; 25 patients ( 36.2 % ) had Class I IgAN, 19 ( 27.5 % ) had category II IgAN, 9 ( 13.0 % ) had category III, 4 patient ( 5.8 % ) had category IV, and 12 patients ( 17.4 % ) had category V IgAN. ( table II ) ( fig 1, 2 ) Seven ( 10.4 % ) patients were treated with methyl Pediapred pulsation for crescentic lesions, 41 patients ( 59.4 % ) treated with unwritten steroids, 10 ( 14.5 % ) received mycophenolate mofetile or Imuran, 18 patients ( 26.1 % ) received cyclosporine, and 58 patients ( 84.1 % ) treated with angiotonin change overing enzyme inhibitors or angiotonin receptor blockers. Fish oil was given as an accessory therapy in 46 ( 66.7 % ) instances. Females had milder histological signifier of the disease ( category I ) whereas males tended to hold more aggressive signifiers ( category IV and V ) ( P A ; lt ; 0.05 ) . No relation was found between the Hass categorization and any of the age at presentation, high blood pressure, presence of hydrops or the degree of albuminuria ( P A ; gt ; 0.05 ) . Macroscopic haematuria was seen more in category IV ( 75 % ) and category V ( 25 % ) than category I ( 8 % ) ( P A ; lt ; 0.05 ) . Nephritic damage at presentation was seen more in patients with category IV ( 75 % ) and category V ( 91 % ) than category I ( 28 % ) ( P A ; lt ; 0.001 ) . The showing serum creatinine and uric acid were higher in those with Hass categories III to V than category I and II ( P A ; lt ; 0.001, A ; lt ; 0.05 severally ) . ( table III ) Deterioration of nephritic map during the follow up period was more important in presence of high blood pressure, nephritic damage at clip of biopsy, and macroscopic haematuria ( P A ; lt ; 0.05 ) whereas the showing degree of albuminuria, age, gender, and Hass categorization had a non important consequence on the impairment of kidney maps ( P A ; gt ; 0.05 ) . The higher the showing serum creatinine the more the impairment of nephritic map during the follow up period ( P A ; lt ; 0.05 ) . ( table IV ) Fig. 1: A instance of crescentic IgA kidney disease. Mesangial enlargement with a cellular crescent. PAS x 400 Fig. 2: Immunoperoxidase staining shows a outstanding Mesangial form. IgA immunoperoxidase x 400 Table I: Clinical and laboratory informations of patients holding IgA nephropathy ( n=69 ) Age in old ages ( mean ±SD ) 35.52 ±10.13 Gender ( male ) N ( % ) 43 ( 62.3 ) Smoking N ( % ) 17 ( 24.6 ) Hypertension N ( % ) 35 ( 50.7 ) Hematuria N ( % ) Microscopic Macroscopic 57 ( 82.6 ) 12 ( 17.4 ) Proteinuria N ( % ) Nephrotic scope Non- Nephrotic scope 34 ( 49.3 ) 35 ( 50.7 ) Serum creatinine  µmol/l ( mean ±SD ) 162.97 ±148.1 Creatinine clearance ml/min/1.73m2 ( average  ± SD ) 48.2 ±37.1 Nephritic damage N ( % ) 35 ( 50.7 ) Serum albumen gm/l ( mean ±SD ) 31.33  ±7.08 Serum Cholesterol mmol/l ( mean ±SD ) 5.65 ±1.9 Serum Triglycerides mmol/l ( mean ±SD ) 1.96 ±1.1 Serum IgA degree gm/l ( mean ±SD ) 2.69 ±1.0 Serum C3 degree gm/l ( mean ±SD ) 1.04 ± 0.15 Serum C4 degree gm/l ( mean ±SD ) 0.94 ±0.12 Edema N ( % ) 30 ( 43.5 ) Treatment given N ( % ) Methyl Pediapred pulsation Angiotensin change overing enzyme inhibitors Oral Steroids Azathioprine Cyclosporine Fish oil 7 ( 10.1 ) 58 ( 84.1 ) 41 ( 59.4 ) 10 ( 14.5 ) 18 ( 26.1 ) 46 ( 66.7 ) Duration of follow up ( mean ±SD ) old ages 3.6 ±1.3 Prognosis N ( % ) Stable / Improved Deterioration of nephritic maps 56 ( 81.2 ) 13 ( 18.8 ) Table II: Histoathological spectrum of nephritic biopsy consequences harmonizing to Hass categorization among IgA N patients ( n=69 ) Hass Classification Number ( % ) Class I 25 ( 36.2 ) Class II 19 ( 27.5 ) Class III 9 ( 13.0 ) Class IV 4 ( 5.8 ) Class V 12 ( 17.4 ) Table Three: Relation between clinical presentation and Hass categorization ( n=69 ) Clinical and research lab informations Hass Classification Trial of significance P value Class I N ( % ) Class II N ( % ) Class III N ( % ) Class IV N ( % ) Class V N ( % ) Gender Male Female 12 ( 48 ) 13 ( 52 ) 10 ( 52.6 ) 9 ( 47.4 ) 7 ( 77.8 ) 2 ( 22.2 ) 3 ( 75 ) 1 ( 25 ) 11 ( 91.7 ) 1 ( 8.3 ) A ; lt ; 0.05* Age at presentation A ; lt ; 40 old ages A ; gt ; 40 old ages 20 ( 80 ) 5 ( 20 ) 9 ( 47.4 ) 10 ( 52.6 ) 8 ( 88.9 ) 1 ( 11.1 ) 3 ( 75 ) 1 ( 25 ) 10 ( 88.3 ) 2 ( 11.7 ) A ; gt ; 0.05 High blood pressure 11 ( 44 ) 9 ( 47 ) 4 ( 44.4 ) 3 ( 75 ) 8 ( 66 ) A ; gt ; 0.05 Edema 13 ( 52 ) 6 ( 31.6 ) 5 ( 55.6 ) 2 ( 50 ) 4 ( 33.3 ) A ; gt ; 0.05 Nephrotic scope Proteinuria 12 ( 48 ) 6 ( 31 ) 5 ( 55.6 ) 3 ( 75 ) 8 ( 66.7 ) A ; gt ; 0.05 Macroscopic haematuria 2 ( 8 ) 4 ( 21 ) 0 ( 0 % ) 3 ( 75 ) 3 ( 25 ) A ; lt ; 0.01* Nephritic damage 7 ( 28 ) 8 ( 42.1 ) 6 ( 16.7 ) 3 ( 75 ) 11 ( 91.7 ) A ; lt ; 0.001* Showing serum Creatinine  µmol/l 84.4 ±31.7 171.3 ±179.6 203.2 ±198.7 288.5 ±84.5 278.5 ±140.1 A ; lt ; 0.001* Serum Uric acid mmol/l 312.6 ±71.8 381.4 ±171.3 428.2 ±20.3 459.5 ±188 412 ±143.9 A ; lt ; 0.01* Table Four: Factors finding deterioration of the kidney map during the follow up Period ( n=69 ) Clinical and research lab informations Deterioration of kidney map Trial of significance P value Yes n ( % ) No n ( % ) Gender male female 11 ( 25.6 ) 2 ( 7.7 ) 32 ( 74.4 ) 24 ( 92.3 ) A ; gt ; 0.05 Age A ; lt ; 40 old ages A ; gt ; 40 old ages 11 ( 22 ) 2 ( 10.5 ) 39 ( 78 ) 17 ( 89.5 ) A ; gt ; 0.05 High blood pressure Yes No 10 ( 28.6 ) 3 ( 8.8 ) 25 ( 71.4 ) 31 ( 91.2 ) A ; lt ; 0.05* Hematurias Microscopic Macroscopic 8 ( 14 ) 5 ( 41.7 ) 49 ( 86 ) 7 ( 58.3 ) A ; lt ; 0.05* Albuminurias Non-Nephrotic scope Nephrotic scope 5 ( 14.3 ) 8 ( 23.5 ) 30 ( 85.7 ) 26 ( 76.5 ) A ; gt ; 0.05 Nephritic damage at presentation Yes No 10 ( 28.6 ) 3 ( 8.8 ) 25 ( 71.4 ) 31 ( 91.2 ) A ; lt ; 0.05* Edema Yes No 6 ( 20 ) 7 ( 17.9 ) 24 ( 80 ) 32 ( 82 ) A ; gt ; 0.05 Discussion Many studies of glomerulonephritis associated with mesangial IgA sedimentations have been published since the original study of IgAN by Berger and Hinglais. The evident incidence of this upset has varied in surveies from different states. In France, ( 9 ) Spain, ( 10 ) Japan, ( 11 ) and Italy ( 12 ) the incidence has ranged from 11.7 to 43.3 % of nephritic biopsies. Much lower incidences have been reported in the United provinces, ( 13 ) England, ( 14 ) and Canada ( 15 ) with the incidence runing from 2.0 to 8.5 % in these states. Berger ( 16 ) suggested that the higher reported incidence of this disease in certain states compared to others may reflect the pattern of everyday one-year uranalysis in the states with high incidence rates. To the best of our Knowledge this is the first survey from the Arab states showing the incidence of IgAN. We reported the incidence to be 9.2 % of native kidney biopsies in Kuwait. Since the original description of IgAN, a figure of surveies have attempted to correlate initial clinical and pathological findings with the subsequent class of the disease. The present survey was in conformity with the old surveies in demoing that females had milder pathologic alterations whereas males were shown to hold more aggressive signifiers. ( 17 ) There is a distinguishable geographical difference in the incidence of macroscopic haematuria in grownup patients. ( 18 ) In European states the reported incidence exceeded 50 % , ( 19,20 ) whereas in Japan, the incidence scope was from 15 to 31 % ( 21,22 ) This difference in distribution can be attributed to difference in the disease nature that could be linked to familial factors. ( 19 ) The predictive significance of macroscopic haematuria was controversial. In the present survey macroscopic haematuria was detected in 17.2 % of instances and found to be associated with aggressive histologic findings and correlatives with hapless forecast. This confirmed the consequences of the South West Pediatric Nephrology Study Group. ( 17 ) Furthermore, Bennet and Kinciad-Smith ( 23 ) reported that nephritic map became significantly worse in those with macroscopic haematurias, and emphasized the high incidence of crescent formation in these instances. However, Clarkson et Al. ( 24 ) demonstrated that nephritic map and lesions were significantly better in patients with macroscopic haematurias than those without it. In our survey nephritic damage at presentation was seen more in patients with category IV and category than category I. Correlation between more extended pathologic characteristics and terrible clinical manifestation were besides documented by Hass et Al. ( 25 ) The presenting serum uric acid correlated with the diseased findings with higher degrees in those with Hass categories III to V than category I and II. This confirmed the consequences of Myllimaki et Al. ( 26 ) who proved a strong correlativity between serum uric acid degree and badness of nephritic harm on biopsy. The overall forecast of IgA N remains to be confirmed. In grownup surveies the incidence of nephritic inadequacy varies from less than 10 % to 48 % in patients followed for more than 1 twelvemonth. ( 27 ) The present survey is in conformity with this consequence as nephritic inadequacy was seen in 18.8 % of instances. Bartosik et Al. ( 28 ) proved that the clinical parametric quantities, such as high blood pressure and badness of albuminuria appear to be stronger predictive indexs than histological findings. Furthermore, Van Der Peer et Al. ( 29 ) found that those with more high blood pressure, more albuminurias, and more pronounced histologic findings deteriorate their nephritic map more during follow up. Other survey showed that females and younger patients were found to hold a better forecast. ( 30 ) In the present work, impairment of nephritic map during the follow up period was more important in presence of high blood pressure, nephritic damage, and macroscopic haematuria at clip of biopsy whereas, the showing degree of albuminuria, age, gender, and Hass categorization have a non important consequence on the impairment of kidney maps. In decision, the incidence of IgAN in Kuwait is 9.2 % . A multicenter survey should be conducted to observe the exact incidence. About 18.8 % of instances deteriorate their nephritic maps during the survey period but a longer follow up is needed. How to cite Iga Nephropathy In Kuwait Health And Social Care Essay, Essay examples

Saturday, December 7, 2019

Business Investment Bond Income and Assets

Question: Discuss about the Business Investment Bond for Income and Assets. Answer: Discussion Paper Statement of Advice (SOA) Reasons for this advice Dylan and Angela are planning to retire soon. Therefore, they need advice for organizing their income and assets. The discussion focuses on efficiently managing the superannuation funds. The advice will be helpful to compensate their mortgage amount quickly without affecting the cash flow, to protect them financially in order to deal with unpredicted traumatic incidents and to bring out the best possible way to save and manage the budget as well as their savings in the bank account. What is included in our advice The advice will include suggestions on organizing Dylans and Angelas superannuation, as they are planning to for their retirements. In order to ensure efficient financial management, greater emphasize will be given to the generic products, such as income protection, managed funds and insurance bonds, in the advice. On the other hand, Dylan and Angela will be encouraged to retrain from applying for investment products or insurance products. Instead, they will be advised to focus on the generic products, which can protect them from potential investment risk. It is very important to act responsibly and in a transparent manner when advising the clients, as it is apparent that they lack adequate understanding regarding the management of their personal finances. In this regard, applicable laws, statutes, risks involved and the benefits obtainable will be clearly communicated to them in a comparative manner. Clients personal and financial position Dylan and Angela are married with a son. They have mortgaged a home for $500,000. Dylans income is $115,000 per annum with Super Guarantee (SG) and Angelas earning amounts to $65,000 per annum with SG. They are planning to retire and are seeking advice to manage Dylans superannuation. They expect to save at least $200,000 per annum and desire to compensate the mortgage sooner. They wish to attain financial protection for any unforeseen event such as death. Net worth calculation work sheet: Assets Liabilities Cash $180,000 Current Debts (115,000+ 65,000) Mortgages: Home $500,000 Total assets $180, 000 Total liabilities $500,000 Total assets-Total liabilities = Net Wroth = ($320,000) Risk Profile The risk profile can be considered as the mechanism, which enables a better analysis of the degree of risk. It guides in implementing appropriate decision-making process regarding the investments, which would be suitable for the clients. In addition to this, the risk profiling tools help in reducing the errors and thereby, enhance the quality of the advices offered to the clients (Moore, 2012). However, the risk profile also have some drawbacks, since it does not include any kind of important information related with the clients investment and other investment alternatives. Therefore, inappropriate questions by the advisors are likely to produce unsuitable advices for the clients (Norman, 2014). In this regard, asset allocation can be referred as developing and implementing the plans related to the investment strategy by maintaining a balance between the proportion of the assets and the risks. The asset allocation strategies can be effective only when the assets are categorized into different sections consisting of bonds, cash balances and stocks. This will enable the clients to follow the most favourable returns for the risks identified (MFS Investment Management, 2016). Diversifying the assets will also benefit the clients to apply different methods of investments. Accordingly, restoring of the assets is also essential to improve the allocation (Polyak, 2016). Strategy discussion Financial strategies considered The clients will need to focus on wealth accumulation, through which they will need to increase the assets considering internal and external superannuation. An efficient management of debts will help the clients to adopt the most appropriate plan to repay loans sooner. The adaptation of the generic products by the clients would also help them manage the risks better, in order to protect the assets (RSM, 2016). Financial strategy The objectives of the clients are to combine their superannuation income accounts with one of the existing funds. To compensate the remaining housing mortgage in a less possible time, savings for the unpredicted traumatic events can also be taken into consideration. The strategy will also focus on reducing the investment risks by saving the retirement fund. How it works The clients can ensure the overall effectiveness of the financial strategies, by including the superannuation. The superannuation consolidation will enable the client to reduce the saving costs by paying only a single set of fee and reducing manual effort or paperwork. The clients can increase their fund by making savings from their salary, which will also allow them taxation benefits. In addition, the clients are advised to apply the generic products rather than any investment or insurance products. The below presented table provides a clearer understanding of the requirement. Generic products How does it works Manage funds It will be helpful for the clients to expand their investment in different assets. Managing funds in this case will enable them to set investment strategies on a regular basis, which can be further invested for capital growth (Franzen, 2010). Insurance bonds In case of insurance bonds, the clients will receive interests on a regular basis. Therefore, they can easily attain the income from the savings (Australian Unity, 2016). Income protection Considering the situation of the clients, long-term income protection insurance schemes can be helpful to cover their financial requirements. The clients can fix a certain period comparing with the anticipated time of mortgage repayment to invest in income protection schemes (Marx Nelson, 2012). Benefits of this strategy The strategy would be beneficial in preparing for the future needs and establishing financial protection, which may be useful for the traumatic events. The accumulation of wealth will enable the clients to take appropriate decisions, by controlling their current expenses in order to increase their savings required in future. By diversifying the investment into different categories of assets, the clients will be able to reduce instability in the investment. Outcomes There are two kinds of phases witnessed post retirement, which include the accumulation phase and the pension phase. In case of the accumulation phase, the clients will require to make an extra effort in order to save for the future. In this stage, greater emphasis will be levied on wealth accumulation, as the clients require reducing the current spending for the future. In addition, the incentives received from the government would be helpful for making investments. The person holding the superannuation for more than a year will enable the clients to minimize the marginal tax rate (Hewish, 2016). Risks you need to consider The risk may affect the quality of the advice offered to the clients. There are number of risks, which can be identified on the basis of the financial strategies advised to the clients. For instance, falling annuity rates may lower the rate of income. If the market in unstable and investment is high, it may also cause risks for the clients. Therefore, if the clients focus on saving their retirement funds, it may help to reduce the investment risks further (AXA, 2015). References Australian Unity, 2016. Investment bond, viewed 5 September 2016, AXA, 2015, What are your pre-retirement investment options?, Retirement, pp 6-16. Franzen, D. (2010), Managing Investment Risk in Defined Benefit Pension Funds, OECD Publishing, Vol 38, pp.1-60. Grant Thornton Australia Limited, 2015. Superannuation consolidation, viewed 5 September 2016, Hewish, J. Pre-Retirement Retirement Strategies. UGC, viewed 5 September 2016, Marx, I Nelson, K 2012, Minimum Income Protection in Flux, Palgrave Macmillan, USA. MFS Investment Management., 2016. Asset Allocation Strategies. Education Planning, viewed 5 September 2016,!ut/p/a1/04_Sj9CPykssy0xPLMnMz0vMAfGjzOL9A40C_c09jAzcjYOdDYxcTPyNTUONDUN8TPULsh0VAabBl04!/ Moore, E., 2012. Warning over adviser risk profile mismatch. Investments. viewed 5 September 2016, Norman, T., 2014. How do advisers sort the good risk-profiling tools from the bad? News, viewed 5 September 2016, Polyak, I., 2016. Finding the right asset allocation is what counts. Portfolio perspective, viewed 5 September 2016, RSM, 2016. Retirement planning. Business Advisory, viewed 5 September 2016,