Financial Management Case Study Example | Topics and Well Written Essays - 2000 words

Financial Management - Case Study Example Every foreign exchange market is in a position to mitigate the risk of uncertainty occurred due to the variations in the exchange rates on cash flows of both payables and receivables. â€Å"Under the hypothesis of efficient foreign exchange markets, the validity of the Purchasing Power Parity theorem may take care of the company’s uncertainty with respect to the mean value of its foreign currency portfolio. The remaining uncertainty, i.e. the variance of the value of the foreign currency portfolio around its mean, can be reduced by hedging† (Soenon 2006). Under this kind of marketing, generally, there should be equilibrium between the estimated cost of hedging and the actual cost. In addition, the chances of risks and uncertainty will be higher in case of exchange rates and its variations. It is necessary to consider the uncertainty caused by fluctuating exchange rates on cash flows both payable and receivable. This is due to the fact that one of the important tools with the finance manager to determine the changes in cash in hand and at bank is the cash flow statement. The statement of cash flows, both inflows and outflows can be analyzed to reveal significant relationships. Cash generating efficiency is the ability of an organization or a company to generate cash from its current or continuing operations. To evaluate this, fundamentally, certain ratios are used. Similarly, free cash flow is significant in this regard. It is the amount of cash that remains after deducting funds a company must commit to continue operating as its planned level. Such commitments must cover current continuing operations, interest, income tax, dividend, and net capital expenditures. When the free cash flow is positive, it means that the company has met all its planned commitments and has cash available to reduce debt or expand. A negative free cash flow would mean that the company needs to sell investments, borrow money or issue stock, in a short term, to carry on its finance at the planned levels. Besides measuring the cash efficiency and free cash flow with the help of cash flow statement, the financial analyst also calculates various ratios on cash figures rather than the earnings of the company. Such major ratios are- 1. Price per share/free cash flow per share 2. Operating cash flow/Operating profit 3. Self financing investment ratio, which is the internal funding/ Investment activities (net). It helps to indicates how much of the funds generated by the business are reinvested in assets. It is evident that the concepts of investment and risk are related to each other. Every business entity aims to maximize its returns. The business that deals with the investment in different securities by the investors is beneficial to a great extend but at the same time is quiet risky. More

Research Support for the Project Proposal of Smoking Cessation Among Paper

Support for the Project Proposal of Smoking Cessation Among Nurses - Research Paper Example Keywords: smoking, cessation, nurses. Research Support for the Project Proposal of Smoking Cessation among Nurses Smoking is a serious problem among nurses. Much has been written and said about the role and importance of smoking cessation programs in clinical settings. Smoking causes profound impacts on the quality of nursing care. In some instances, smoking among nurses is justified by the amount of stress they constantly experience in the workplace: Tagliacozzo and Vaughn (1986) established a direct relation between work-related stresses and smoking among nurses. This however does not mean that nurses are secured from the risks and negative consequences of smoking. A facility-based smoking cessation program has the potential to reduce smoking among nurses, through counseling support, monetary incentives, nicotine-replacement therapies, and Cognitive-Behavioral therapy. The role and significance of counseling support in smoking cessation was discussed in abundance. Individual, group , or telephone counseling was extensively used to raise smoking cessation rates in various population groups. Lancaster and Stead (2008) reviewed previous studies and concluded that individual counseling increased the likelihood of smoking cessation. ... Those results were also supported by Stead, Perrera and Lancaster (2009), who found that both reactive and proactive telephone counseling was responsible for increased rates of smoking cessation among individuals. The rationale behind telephone counseling and its efficacy in smoking cessation are difficult to explain: most probably, smokers perceive telephone support as both reliable and anonymous, and which gives them a sense of confidence in dealing with the problem of smoking. It is also possible that telephone lines provide that assistance which smokers really need in their long and troublesome way to cessation. Whatever the rationale, individual counseling, either personal or telephone, can benefit nurses who are willing to quit smoking. Unfortunately, individual counseling is always associated with additional costs (Lichtenstein et al, 1996). New technologies provide the flexibility and communication opportunities required to reduce smoking among nurses. Yet, they also add to t he burden of financial and technical expenses on hospitals. This is why individual counseling can give place to group counseling strategies. Group counseling is believed to be a better alternative to individual smoking cessation counseling. The current state of literature suggests that individual counseling alone cannot increase smoking cessation rates (Stead & Lancaster, 2009). Unfortunately, evaluating the benefits and outcomes of group counseling interventions is not possible, due to the heterogeneity of subjects involved in study samples (Stead & Lancaster, 2009). Moreover, group counseling is by itself not without controversy, since groups demonstrate limited reach to smoking populations and are characterized by low participation rates (Stead &