Canto Xx of Dantes Inferno - 1074 Words

An Analysis of The Souls Damned in Canto XX from Dante Alighieri’s Inferno Introduction Virgil and Dante find themselves in Circle Eight, Bolgia Four. The damned in this circle are all diviners and soothsayers, viewed by Dante as practitioners of impious and unlawful arts who attempt to avert God’s designs by their predictions. Virgil implies that those who do prophesy believe that God Himself is â€Å"passive† in the face of their attempts to foresee, and possibly change, the future. For such impiety, those who have tried to look forward now have their heads turned backward on their bodies. Among these damned are Amphiareus, Tiresias, Aruns, Manto, Eurypylus, Michael Scott, Guido Bonatti, and Asdente. Body Dante takes a step backward in†¦show more content†¦Conclusion During Dante’s time, fortune telling and sorcery is prevalent in Italy. Diviners and soothsayers are found in different works of literature such as Sophocles’ Oedipus Rex and Ovid’s Metamorphoses. Medieval people from all walks of life- a shoemaker, astrologer, scientist, military adviser and kings believe in the craft of fortune telling and follow what the soothsayers said even if it means putting people into exile and not attending a war. Canto XX mentioned one of the 7 kings who fought against Thebes, a blind soothsayer from Greek Mythology, a soothsayer from Etruia, a sorceress, an irish scholar who dealt with the occult, a court astrologer and a military adviser- all of them reflected the practice of the forbidden arts before and during Dante’s time and until now it is still widely accepted and promoted by people. There are horoscope sections in the newspaper and magazines, fals e prophets and fortune tellers are found everywhere in the archipelago. It is ironic that there are dozens of fortune tellers in front of the Quaipo Church when it is supposed to be a house of God and place of worship, not a place of sin. In keeping with Dantes theme of Divine Retribution, the Fortune Tellers and Diviners have their heads on backwards, their tears ran down their backs, and down the between the cleft of their buttocks . These are the souls who, on Earth, tried to see too far ahead of them, and thus will spend eternity forever looking behindShow MoreRelatedAnalysis Of `` Inferno And Thomas More s Satirical Dialogue `` Utopia ``1366 Words   |  6 Pagessetting, characters, and theme.. Dante’s Inferno and Thomas More’s Utopia are perfect examples of the use of irony as they utilized the various techniques throughout their stories. There are a plethora of accounts where irony is apparent, including the sceneries, dialogue, and titles that are portrayed in their work. This essay will examine and compare the uses of irony in Dante Alighieri’s narrative poem, Inferno and Thomas More’s satirical dialogue, Utopia. Dante’s Inferno describes distinctive usesRead MoreInferno Research Paper1715 Words   |  7 PagesInferno Research Paper Anthony K. Cassell stated in his critical essay titled â€Å"Farinata† that â€Å"the methods of punishment in Dante’s Hell are exquisitely diverse.† The cantos in Inferno are focused on Circles or subdivisions of Hell that describe specific punishments for the suffering souls based upon the sin they committed. The deeper into Hell, the worse the sins that were committed, therefore the agonies of the punishments are greater. In Inferno, Dante brings the issue of sin into light by givingRead MoreWhy Is Humanities Important?3163 Words   |  13 Pagesup. These works are continuously referenced. Another reason that humanities is taught is because it helps people express themselves better, and have a broader base from which to do so. If most of us have read and memorized the punishments in the Inferno than most people would understand. But the basic idea is that by studying humanities we ll communicate and understand each other better. And while memorizing these in fernal punishments may seem tedious, if looked at pragmatically it s really notRead MoreInferno And The Divine Comedy1834 Words   |  8 PagesInferno (c. 1314) serves as the first part of Dante Alighieri’s poem Divine Comedy which is a journey through Hell, Purgatory, and Heaven. On a broader level, Divine Comedy serves as an allegory for the journey of the soul towards God through the created earth. Inferno and the Divine Comedy serve as a form of scholastic thought, the rational study of religion, as Dante draws on medieval theology to share the modern view on God and the afterlife. This essay explores Dante’s perception of the universeRead More Dante’s Inferno - The Evolving Relationship between Dante the Pilgrim and Virgil the Guide2167 Words   |  9 PagesDante’s Inferno -   The Evolving Relationship between Dante the Pilgrim and Virgil the Guide       In Dante’s Inferno, the relationship between Dante the Pilgrim and Virgil the Guide is an ever-evolving one. By analyzing the transformation of this relationship as the two sojourn through the circles of hell, one is able to learn more about the mindset of Dante the Poet.   At the outset, Dante is clearly subservient to Virgil, whom he holds in high esteem for his literary genius.Read MoreThe Inferno is a work that Dante used to express the theme on his ideas of Gods divine justice. Gods divine justice is demonstrated through the punishments of the sinners the travelers encounter.2641 Words   |  11 PagesOUTLINE Thesis statement: In Dantes Inferno, the first part of the Divine Comedy, Dante develops many themes throughout the adventures of the travelers. The Inferno is a work that Dante used to express the theme on his ideas of Gods divine justice. Gods divine justice is demonstrated through the punishments of the sinners the travelers encounter. 1) Introduction A. An overview Dante Alighieris life, writing style and the Inferno B. Dante Alighieris life during the torrential times of theRead More Finding Morality and Unity with God in Dantes Inferno Essay1405 Words   |  6 PagesFinding Morality and Unity with God in Dantes Inferno Throughout the fast-paced lives of people, we are constantly making choices that shape who we are, as well as the world around us; however, one often debates the manner in which one should come to correct moral decisions, and achieve a virtuous existence. Dante has an uncanny ability to represent with such precision, the trials of the everyman’s soul to achieve morality and find unity with God, while setting forth the beauty, humor, and horrorRead MoreThe Divine Comedy: Allegory2235 Words   |  9 PagesThe Divine Comedy: Inferno Dante Alighieri Major Characters †¢ Dante Alighieri o Thirty-five years old at the beginning of the journey ( half of man’s biblical life span â€Å"threescore and ten years† (Psalm 90:10) o Lost his way on â€Å"the true path† of life ( sin has obstructed his path to God o Explores the nature of sin by traveling through hell o Rooted in the Everyman allegorical tradition ( represents humanity o Little known about his lifeRead MoreAnalyzing Dantes The Divine Comedy2313 Words   |  9 Pagesand his use of contrapasso. Durante degli Alighieri, usually referred to as Dante (1265-1321), was an Italian poet, moral philosophers, and political thinker best known for his epic poem La divina commedia. Essentially, The Divine Comedy describes Dantes journey through Hell, Purgatory, and Paradise guided at first by the Roman poet Virgil, and then by Beatrice, the subject of his undying love. In many ways, though, the poem is both a literary story of a journey and a commentary about the political

A Raisin in the Sun Compare/Contrast Play/Film Essay

Lorraine Hansberry’s play â€Å"A Raisin in the Sun,† was a radically new representation of black life, resolutely authentic, fiercely unsentimental, and unflinching in its vision of what happens to people whose dreams are constantly deferred. I compared Act One, Scene 2, in the play and the film. The setting in the play is on a Saturday morning, and house cleaning is in process at the Youngers. In the film, the setting is the same as play, with lighting and costumes. The plot in the play is when Mrs. Younger gets the insurance check of $10,000. In the film, the plot is the same, but includes music not mentioned in the play. The dialogue in the film has some deletions from the original text, with new dialogue added throughout the scene.†¦show more content†¦Perhaps the biggest difference between the play and the film in this scene involves dialogue. Much of the dialogue is rephrased and not said as the author has written it in the play. And also, some of the dialogue from the original text is deleted, however, new dialogue is added. And also, unlike the film, a lot of the actions the author has described in the play did not happen in the film. Such as, on page 91 as Ruth says â€Å"Praise God!† the author describes that she raises both arms classically, and as she tells Walter Lee to be glad, the author describes she has laid her hands on his shoulders, but he shakes himself free of her roughly, without turning to face her, these actions did not happen in the film. I also had compared Act Two, Scene 3, in the play and the film. The setting in the play is on a Saturday, moving day, one week later. In the film, the setting is the same as the play, with lighting and costumes. The plot in the play is Linder tries to buy back the house from the Younger family. In the film, the plot is the same as the play. The dialogue in the film has some deletions from play; new dialogue is added in replacement of the deleted dialogue. Some film techniques used in this scene are: the film cuts back and forth to different characters, and the room is well lit with the sunshine coming in through the window. Perhaps the biggestShow MoreRelatedEssay on Compare Contrast a Raisin in the Sun1026 Words   |  5 PagesFrontina Taylor English Comp II Jaime Barrett Compare and Contrast A Raisin In The Sun Essay In the play, A Raisin in the Sun, by Lorraine Hansberry, and 1961 movie written by Lorraine Hansberry and presented by Columbia pictures, one of the most important themes is the American Dream. Many of the characters have hopes and dreams. They all strive towards their goals throughout. However, many of the characters have different dreams that clash with each other. Problems seem toRead MoreEssay on Media Analysis5267 Words   |  22 Pages‘Media’ is the plural of the word ‘medium’, which often refers to different ways of communicating with other people; if the target is a large number of people, then it is called ‘mass media’. There are many types of media, such as TV, radio, films, newspaper, Internet etc. The main purpose of media is to entertain; however they can also be used to persuade, inform, explain and advice. Media can be very powerful; therefore people are influenced and affected by them. The twoRead MoreLangston Hughes Research Paper25309 Words   |  102 Pageshe had waited for Jesus and he hadnt come. He felt unworthy of love. Not only had he been abandoned by his parents, but Jesus had not transformed his soul and saved him from sin. Many years later he wrote a poem, Genius Child. In the poem, he compares a child to an eagle that cannot be tamed, with a soul that runs wild. 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Answer: TRUE Page Ref: 12 Objective: 4 Difficulty: Easy 99) The overabundance of information available on the Internet has made it more difficult for consumers to compare product features and prices. Answer: FALSE Page Ref: 13 Objective: 4 AACSB: Reflective thinking Difficulty: Easy 100) Companies can facilitate and speed external communication among customers by creating online and off-line buzz throughRead MoreCase Studies67624 Words   |  271 Pagesacquisition with significant involvement from students as active learners. In the words of Alfred North Whitehead, this philosophy ‘rejects the doctrine that students had first learned passively, and then, having learned should apply knowledge’.3 In contrast to this philosophy, the case analysis method is based on principles that were elaborated upon by John Dewey: Only by wrestling with the conditions of this problem at hand, seeking and finding his own way out, does [the student] think ... If he cannot

Fin 202- Group Assignment Free Essays

â€Å" p c l h n t Ms h m Le H S ei t a k o . a i a a P n frh ligu t d t i po c† o e n s o o hs rj t p e Table of content: Excutive Summary: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. We will write a custom essay sample on Fin 202- Group Assignment or any similar topic only for you Order Now P. 3 Business Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 3 Vision:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 3 Main Services:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 3 Evaluating the market:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 4 Financial Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 5 Initial Investment:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 5 Interest Payment:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 6 Wages Payment: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 6 Variable cost:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 7 Fixed cost per year for Selling and Admin activities:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 7 Expected number of customers:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 7 Total expense:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 8 Price of each services:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 8 Revenue Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ P. Profit Loss Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 9 Break even for each year:†¦Ã¢â‚¬ ¦P. 9 Cash flow Analysis:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 10 Conclusion:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 10 Reference:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 11 Excutive summary: In order to bring customers a new service, especially for the female customers, our group decided to bring a new project- call Cake Paradise. Nowadays, need of making a handmade cake or chocolate of female customers for their lovers, friends or families is very high but not everyone has enough money to buy for herself an expensive oven or cake cooking tools. Our project is created to solve this problems. We provide a service for customer to hire our kitchen with full machines tools of cake cooking to made a cake or chocolate. We also provides ingridiants in Shop of cake ingridients in 1st floor and Class of learning how to make a cake 2 times/week. With this advantages and professional of this service, we believe we will achieve the highest expectation from customer. To be the first company provide service in hiring Cake making machines and Tools, Cake paradise have high grow rate and fullfill the need of customers about the cake making-which means profitable and deserve to be invested. Business plan: Vision: Customers Focus High quality services Grown up by 100% in the first 5 years Making profits since 2nd or 3rd year operating Main Services: 1st Floor: Shop of Cake ‘ingridientswhere you can find any kinds of cake ingridients and tools. 2nd 3rd Floor: Cake paradise’s Kitchen – for hiring with fullfill cake making ‘s equipment and tools. It is call DIY service- With VND120,000 for 3 hours, you will have full of cake making equipment and tools to make your ideal cake for your lovers. Every Friday and Sunday, we have classes of making cake, which are teached by cookers who are very experienced in making cakes- With VND400,000 for a 4-hour class, you will learn to make 3 kinds of delicious cakes or chocolate in the world, it is a best price for any learners. Evaluating Market: Instead of going to a cake shop and buy for the lovers or family, friends a cake, recently, many girls and women want to make for her relatives a cake by herself. This gift is unique and more meaningful to her relatives and in other way, it prove the womenliness and caringful of who made it. It now creates a trend not only in making cake but also in making handmade stuffs. We notice that there is a lack for cake handmade market. We can easily find handmake ‘s materitals and tools in the market as paper, stuff,†¦.. with a quite cheap price. But in making cake, the ingridients, especially the cake making equipments are very expensive. Not everyone has enough money to buy for herself a expensive oven or cooking tools. When in the market, there are many suppliers provides for other handmade things but there aren’t a supplier which provide hiring cake making machine tools although the demand of it is very high. Seeing this, our group decided to bring Cake paradise service to customer. Financial Plan: Innital Investment: We plan the project will be implemented in 5 years For the long-term assets, time for full depreciation is 5 years. No. Tool Equipment Capital Expense 1st Floor -Shop for Cake’s ingridients Good shelf Refrigerator Table Electronic Cash Regristor Cost of Installment Decoration 2nd 3rd Floor- Place for DIY and Learning Kitchen cupboard Oven Refrigerator Hand-mixer Blender Gas cooker Fan Table Cost of Installment Decoration 4th Floor -Office Destop PC Phones Printer Office Table and chairs Cost of Installment Decoration Working capital for the zero year Uniform for Staff Training course for staff Tools for the kitchen Tools for the office Cash INITAL INVESTMENT Quantity Cost per Unit Total Cost 148,500,000 17,800,000 4,800,000 3,500,000 1,000,000 3,500,000 5,000,000 99,900,000 30,000,000 18,000,000 26,000,000 2,800,000 1,100,000 4,000,000 4,000,000 4,000,000 10,000,000 30,800,000 20,000,000 800,000 3,000,000 5,000,000 2,000,000 45,000,000 2,000,000 3,000,000 5,000,000 5,000,000 30,000,000 193,500,000 29,700,000 1 1 1 600,000 3,500,000 1,000,000 3,500,000 5,000,000 15,000,000 3,000,000 13,000,000 700,000 550,000 2,000,000 1,000,000 1,000,000 10,000,000 10,000,000 800,000 3,000,000 1,000,000 2,000,000 200,000 500,000 TOTAL DEPRECITAION 2 6 2 4 2 2 4 4 2 1 1 5 10 6 Interest Payment: Year Quarter 1 I II III IV 2 I II III IV 3 I II III IV 4 I II III IV 5 I II III IV INTEREST PAYMENTS (VND) Beginning Balance Principal Payment Interest Payment Total Payment Total Payment/Year Ending Balance 80,000,000 4,000,000 2,400,000 6,400,000 24,880,000 76,000,000 76,000,000 4,000,000 2,280,000 6,280,000 72,000,000 72,000,000 4,000,000 2,160,000 6,160,000 68,000,000 68,000,000 4,000,000 2,040,000 6,040,000 64,000,000 64,000,000 4,000,000 1,920,000 5,920,000 22,960,000 60,000,000 60,000,000 4,000,000 1,800,000 5,800,000 56,000,000 56,000,000 4,000,000 1,680,000 5,680,000 52,000,000 52,000,000 4,000,000 1,560,000 5,560,000 48,000,000 48,000,000 4,000,000 1,440,000 5,440,000 21,040,000 44,000,000 44,000,000 4,000,000 1,320,000 5,320,000 40,000,000 40,000,000 4,000,000 1,200,000 5,200,000 36,000,000 36,000,000 4,000,000 1,080,000 5,080,000 32,000,000 32,000,000 4,000,000 960,000 4,960,000 19,120,000 28,000,000 28,000,000 4,000,000 840,000 4,840,000 24,000,000 24,000,000 4,000,000 720,000 4,720,000 20,000,000 20,000,000 4,000,000 600,000 4,600,000 16,000,00 0 16,000,000 4,000,000 480,000 4,480,000 17,200,000 12,000,000 12,000,000 4,000,000 360,000 4,360,000 8,000,000 8,000,000 4,000,000 240,000 4,240,000 4,000,000 4,000,000 4,000,000 120,000 4,120,000 Notes: Debt of VND80,000,000 from bank, maturity of 5 years, interest rate 12% Interest is paid in from the first month, principal payment is incurred once a quarter Wages payment: Job title 1 Director 2 Secretary 3 Accountant 4 Sales Assistant 5 Cooking teacher 6 Securities Total Quantity 1 1 1 6 2 2 WAGE PAYMENTS (VND) Year 1 Year 2 72,000,000 75,600,000 42,000,000 44,100,000 48,000,000 50,400,000 144,000,000 151,200,000 96,000,000 100,800,000 48,000,000 50,400,000 450,000,000 472,500,000 Year 3 79,380,000 46,305,000 52,920,000 158,760,000 105,840,000 52,920,000 496,125,000 Year 4 83,349,000 48,620,250 55,566,000 166,698,000 111,132,000 55,566,000 520,931,250 Year 5 87,516,450 51,051,263 58,344,300 175,032,900 116,688,600 58,344,300 546,977,813 Notes: 1. Wages of Director, Secretary, Accountant, Sales Assistant, Securities are included in Selling and Admin Fixed expense each year 2. Wages of cooking teacher is included as Direct Labor for Learning Services 3. Wages growth rate is 5% each year Variable cost: We have three services in this project, in general, to estimate the variable cost, we estimate the variable cost beyond the number of customers we service. Services Included Shopping DIY Learning Bag Tool packgage 1 Tools package 2 Ingridients Using CP’s kitchen Using CP’s tools Teacher Services Included Bag Tool package 1 Tool package 2 Ingridients Using CP’s kitchen (gas, water, electricity cost,†¦) Using CP’s kitchen ‘s tools Teacher Total VARIABLE COST PER CUSTOMER Shopping DIY 500 3,500 Learning 500 3,500 15,000 3,000 10,000 500 3,500 15,000 50,000 3,000 10,000 50,000 132,000 4,000 32,000 Fixed cost per year for Selling and Admin activities: FIXED COST PER YEAR FOR ADMINSTRATIVE SELLING ACTIVITIES Detail Per month Per year Internet bill 250,000 3,000,000 Electricity bill 1,500,000 18,000,000 Water bill 200,000 2,400,000 Phoning bill 200,000 2,400,000 Advertising exp 6,000,000 Other exp 1,000,000 12,000,000 43,800,000 Expected number of customers: year 1 Shopping DIY Learning Total EXPECTED NUMBER OF CUSTOMER year 2 year 3 year 4 3500 4550 5460 2920 3796 4555 768 998 1198. 1 7,188 9,344 11,213 year 5 5733 4783 1258 11,774 6020 5022 1321 12,363 We assume that because this is a new services which haven’t existed in the market so it will have a numerous of customers The growth rate will be 30%, 10% and 5% for the year of 2, 3, 4 and 5 respectively , after the services enter the market. Total expense: Year 0 Total Variable costs Shopping DIY Learning Total Fixed costs Wages Depreciation House Renting Fixed cost of selling and admin Intersest payment Total cost TOTAL EXPENSE Year 1 Year 2 Year 3 Year 4 Year 5 208,816,000 271,460,800 325,752,960 342,040,608 14,000,000 18,200,000 21,840,000 22,932,000 93,440,000 121,472,000 145,766,400 153,054,720 101,376,000 131,788,800 158,146,560 166,053,888 512,380,000 354,000,000 29,700,000 60,000,000 43,800,000 24,880,000 721,196,000 528,160,000 371,700,000 29,700,000 60,000,000 43,800,000 22,960,000 799,620,800 544,825,000 390,285,000 29,700,000 60,000,000 43,800,000 21,040,000 870,577,960 562,419,250 409,799,250 29,700,000 60,000,000 43,800,000 19,120,000 904,459,858 359,142,638 24,078,600 160,707,456 174,356,582 580,989,213 430,289,213 29,700,000 60,000,000 43,800,000 17,200,000 940,131,851 Price of each services: Customer Year 1 Shopping DIY Learning Year 2 Shopping DIY Learning Year 3 Shopping DIY Learning Year 4 Shopping DIY Learning Year 5 Shopping DIY Learning 3,500 2,920 768 4,550 3,796 998 5,460 4,555 1,198 5,733 4,783 1,258 6,020 5,022 1,321 Variable Cost 14,000,000 93,440,000 101,376,000 18,200,000 121,472,000 131,788,800 21,840,000 145,766,400 158,146,560 22,932,000 153,054,720 166,053,888 24,078,600 160,707,456 174,356,582 Fixed cost Toatal cost Cost per customer Average cost in 5 year 512,380,000 51,238,000 65,238,000 18,639 15,138 230,571,000 324,011,000 110,963 92,074 230,571,000 331,947,000 432,223 360,406 528,160,000 52,816,000 71,016,000 15,608 237,672,000 359,144,000 94,611 237,672,000 369,460,800 370,053 544,825,000 54,482,500 76,322,500 13,978 245,171,250 390,937,650 85,822 245,171,250 403,317,810 336,637 562,419,250 56,241,925 79,173,925 13,810 253,088,663 406,143,383 84,915 253,088,663 419,142,551 333,186 580,989,213 58,098,921 82,177,521 13,652 261,445,146 422,152,602 84 ,059 261,445,146 435,801,728 329,932 Shopping DIY Learning Original Cost plus 1% Final Price Note: We calculate the total cost of a service and base on it to estimate the price 15,289 17,000 For the Shopping services, the price is the average profit we gain from each shopping bill 92,995 120,000Assume that the shop don’t have inventory because the goods are directly taken from agent 364,010 400,000 Revenue Plan: Year 0 Shopping Customer Profit/bill DIY Customer Price Learning Customer Price Total Growth rate of revenue (%) Year 1 EXPECTED REVENUE Year 2 Year 3 Year 4 Year 5 59,500,000 77,350,000 92,820,000 97,461,000 102,334,050 3,500 4,550 5,460 5,733 6,020 17,000 17,000 17,000 17,000 17,000 350,400,000 455,520,000 546,624,000 573,955,200 602,652,960 2,920 3,796 4,555 4,783 5,022 120,000 120,000 120,000 120,000 120,000 307,200,000 399,360,000 479,232,000 503,193,600 528,353,280 768 998 1,198 1,258 1,321 400,000 400,000 400,000 400,000 400,000 717,100,000 932,230,000 1,118,676,000 1,174,609,800 1,233,340,290 30 20 5 5 Because this is a completely new services, so after the first year, the number of customers increase sharply in the 2nd and 3rd year, but in the 4th and 5th year when Cake paradise (C has the competitor, ( who enter the market to join this segment), the growth rate of CP increase slightly at 5%. Profit Loss Plan: Year 1 Revenue Variable Cost Contribute Margin Fixed Cost Earning before Tax Tax Earning after tax PROFIT AND LOSS PLAN Year 2 Year 3 Year 4 Year 5 717,100,000 932,230,000 1,118,676,000 1,174,609,800 1,233,340,290 208,816,000 271,460,800 325,752,960 342,040,608 359,142,638 508,284,000 660,769,200 792,923,040 832,569,192 874,197,652 512,380,000 528,160,000 544,825,000 562,419,250 580,989,213 (4,096,000) 132,609,200 248,098,040 270,149,942 293,208,439 28% 28% 28% 28% 28% (4,096,000) 95,478,624 178,630,589 194,507,958 211,110,076 We can see that in the first year, because this is a new service and it needs time for the customers to know and have the habit to use this service, so the earning after tax for the first year is negative. After the first year,the number of customers who know and use Cake Paradise service increase (beyond word of mouth), the earning after tax for the 2nd, 3rd, 4th, 5th increase sharply. Break even for each year: Year 1 CM CM unit CM Ratio Break even point Break even revenue Safety of margin 508,284,000 70712. 9 0. 7088 7,246 722,878,741 (5,778,741) BREAK EVEN Year 2 Year 3 Year 4 Year 5 660,769,200 792,923,040 832,569,192 874,197,652 70712. 9 70712. 9 70712. 9 70712. 9 0. 7088 0. 7088 0. 7088 0. 7088 7,469 7,705 7,954 8,216 745,141,567 768,652,973 793,475,388 819,674,364 187,088,433 350,023,027 381,134,412 413,665,926 Cash flow: We have, cost of capital was calculated by WACC assumption: ( ( ) ) Year 0 Revenue Operating Expense EBITDA DA EBIT (1- Tax) NOPAT CFOP Capital expense Working capital Add W. C Free Cash flow Payback Period Cost of capital NPV IRR MIRR CASH FLOW Year 1 Year 2 Year 3 Year 4 Year 5 717,100,000 932,230,000 1,118,676,000 1,174,609,800 1,233,340,290 691,496,000 769,920,800 840,877,960 874,759,858 910,431,851 25,604,000 162,309,200 277,798,040 299,849,942 322,908,439 29,700,000 29,700,000 29,700,000 29,700,000 29,700,000 (4,096,000) 132,609,200 248,098,040 270,149,942 293,208,439 0. 72 0. 72 0. 72 0. 72 0. 72 (4,096,000) 95,478,624 178,630,589 194,507,958 211,110,076 25,604,000 125,178,624 208,330,589 224,207,958 240,810,076 (148,500,000) (45,000,000) (193,500,000) 2. 5 15. 30% 277,726,609 54% 30. 39% (45,000,000) 25,604,000 (58,500,000) (13,500,000) 111,678,624 (70,200,000) (11,700,000) 196,630,589 (73,710,000) (3,510,000) 220,697,958 (77,395,500) (3,685,500) 314,520,076 The Payback Period is: Conclusion: 1. 2. 3. 4. The project completely has the ability of reaching the break-even point from the first year. Payback period is nearly 2. 5 years, a very appropriate period in the whole process of 5 years. NPV is a positive numbers and IRR is at 54%, much more higher than the cost of capital. MIRR is at 30. 39%, a high figure. ? Although the initial investment is quite small, all the figures above have proved that this project is profitable and promises to bring high profit. Reference: Fundamental of corporate financial Book Vatgia. vn Kitchenart. wordpress. com Nguyenkim. vn â€Å"Special thank to Ms. Pham Lien Ha to helps us to do this project† How to cite Fin 202- Group Assignment, Papers Fin 202- Group Assignment Free Essays â€Å" p c l h n t Ms h m Le H S ei t a k o . a i a a P n frh ligu t d t i po c† o e n s o o hs rj t p e Table of content: Excutive Summary: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. We will write a custom essay sample on Fin 202- Group Assignment or any similar topic only for you Order Now P. 3 Business Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 3 Vision:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 3 Main Services:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 3 Evaluating the market:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 4 Financial Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 5 Initial Investment:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 5 Interest Payment:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 6 Wages Payment: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 6 Variable cost:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 7 Fixed cost per year for Selling and Admin activities:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 7 Expected number of customers:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 7 Total expense:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. P. 8 Price of each services:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦P. 8 Revenue Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ P. Profit Loss Plan:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 9 Break even for each year:†¦Ã¢â‚¬ ¦P. 9 Cash flow Analysis:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 10 Conclusion:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 10 Reference:†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. P. 11 Excutive summary: In order to bring customers a new service, especially for the female customers, our group decided to bring a new project- call Cake Paradise. Nowadays, need of making a handmade cake or chocolate of female customers for their lovers, friends or families is very high but not everyone has enough money to buy for herself an expensive oven or cake cooking tools. Our project is created to solve this problems. We provide a service for customer to hire our kitchen with full machines tools of cake cooking to made a cake or chocolate. We also provides ingridiants in Shop of cake ingridients in 1st floor and Class of learning how to make a cake 2 times/week. With this advantages and professional of this service, we believe we will achieve the highest expectation from customer. To be the first company provide service in hiring Cake making machines and Tools, Cake paradise have high grow rate and fullfill the need of customers about the cake making-which means profitable and deserve to be invested. Business plan: Vision: Customers Focus High quality services Grown up by 100% in the first 5 years Making profits since 2nd or 3rd year operating Main Services: 1st Floor: Shop of Cake ‘ingridientswhere you can find any kinds of cake ingridients and tools. 2nd 3rd Floor: Cake paradise’s Kitchen – for hiring with fullfill cake making ‘s equipment and tools. It is call DIY service- With VND120,000 for 3 hours, you will have full of cake making equipment and tools to make your ideal cake for your lovers. Every Friday and Sunday, we have classes of making cake, which are teached by cookers who are very experienced in making cakes- With VND400,000 for a 4-hour class, you will learn to make 3 kinds of delicious cakes or chocolate in the world, it is a best price for any learners. Evaluating Market: Instead of going to a cake shop and buy for the lovers or family, friends a cake, recently, many girls and women want to make for her relatives a cake by herself. This gift is unique and more meaningful to her relatives and in other way, it prove the womenliness and caringful of who made it. It now creates a trend not only in making cake but also in making handmade stuffs. We notice that there is a lack for cake handmade market. We can easily find handmake ‘s materitals and tools in the market as paper, stuff,†¦.. with a quite cheap price. But in making cake, the ingridients, especially the cake making equipments are very expensive. Not everyone has enough money to buy for herself a expensive oven or cooking tools. When in the market, there are many suppliers provides for other handmade things but there aren’t a supplier which provide hiring cake making machine tools although the demand of it is very high. Seeing this, our group decided to bring Cake paradise service to customer. Financial Plan: Innital Investment: We plan the project will be implemented in 5 years For the long-term assets, time for full depreciation is 5 years. No. Tool Equipment Capital Expense 1st Floor -Shop for Cake’s ingridients Good shelf Refrigerator Table Electronic Cash Regristor Cost of Installment Decoration 2nd 3rd Floor- Place for DIY and Learning Kitchen cupboard Oven Refrigerator Hand-mixer Blender Gas cooker Fan Table Cost of Installment Decoration 4th Floor -Office Destop PC Phones Printer Office Table and chairs Cost of Installment Decoration Working capital for the zero year Uniform for Staff Training course for staff Tools for the kitchen Tools for the office Cash INITAL INVESTMENT Quantity Cost per Unit Total Cost 148,500,000 17,800,000 4,800,000 3,500,000 1,000,000 3,500,000 5,000,000 99,900,000 30,000,000 18,000,000 26,000,000 2,800,000 1,100,000 4,000,000 4,000,000 4,000,000 10,000,000 30,800,000 20,000,000 800,000 3,000,000 5,000,000 2,000,000 45,000,000 2,000,000 3,000,000 5,000,000 5,000,000 30,000,000 193,500,000 29,700,000 1 1 1 600,000 3,500,000 1,000,000 3,500,000 5,000,000 15,000,000 3,000,000 13,000,000 700,000 550,000 2,000,000 1,000,000 1,000,000 10,000,000 10,000,000 800,000 3,000,000 1,000,000 2,000,000 200,000 500,000 TOTAL DEPRECITAION 2 6 2 4 2 2 4 4 2 1 1 5 10 6 Interest Payment: Year Quarter 1 I II III IV 2 I II III IV 3 I II III IV 4 I II III IV 5 I II III IV INTEREST PAYMENTS (VND) Beginning Balance Principal Payment Interest Payment Total Payment Total Payment/Year Ending Balance 80,000,000 4,000,000 2,400,000 6,400,000 24,880,000 76,000,000 76,000,000 4,000,000 2,280,000 6,280,000 72,000,000 72,000,000 4,000,000 2,160,000 6,160,000 68,000,000 68,000,000 4,000,000 2,040,000 6,040,000 64,000,000 64,000,000 4,000,000 1,920,000 5,920,000 22,960,000 60,000,000 60,000,000 4,000,000 1,800,000 5,800,000 56,000,000 56,000,000 4,000,000 1,680,000 5,680,000 52,000,000 52,000,000 4,000,000 1,560,000 5,560,000 48,000,000 48,000,000 4,000,000 1,440,000 5,440,000 21,040,000 44,000,000 44,000,000 4,000,000 1,320,000 5,320,000 40,000,000 40,000,000 4,000,000 1,200,000 5,200,000 36,000,000 36,000,000 4,000,000 1,080,000 5,080,000 32,000,000 32,000,000 4,000,000 960,000 4,960,000 19,120,000 28,000,000 28,000,000 4,000,000 840,000 4,840,000 24,000,000 24,000,000 4,000,000 720,000 4,720,000 20,000,000 20,000,000 4,000,000 600,000 4,600,000 16,000,00 0 16,000,000 4,000,000 480,000 4,480,000 17,200,000 12,000,000 12,000,000 4,000,000 360,000 4,360,000 8,000,000 8,000,000 4,000,000 240,000 4,240,000 4,000,000 4,000,000 4,000,000 120,000 4,120,000 Notes: Debt of VND80,000,000 from bank, maturity of 5 years, interest rate 12% Interest is paid in from the first month, principal payment is incurred once a quarter Wages payment: Job title 1 Director 2 Secretary 3 Accountant 4 Sales Assistant 5 Cooking teacher 6 Securities Total Quantity 1 1 1 6 2 2 WAGE PAYMENTS (VND) Year 1 Year 2 72,000,000 75,600,000 42,000,000 44,100,000 48,000,000 50,400,000 144,000,000 151,200,000 96,000,000 100,800,000 48,000,000 50,400,000 450,000,000 472,500,000 Year 3 79,380,000 46,305,000 52,920,000 158,760,000 105,840,000 52,920,000 496,125,000 Year 4 83,349,000 48,620,250 55,566,000 166,698,000 111,132,000 55,566,000 520,931,250 Year 5 87,516,450 51,051,263 58,344,300 175,032,900 116,688,600 58,344,300 546,977,813 Notes: 1. Wages of Director, Secretary, Accountant, Sales Assistant, Securities are included in Selling and Admin Fixed expense each year 2. Wages of cooking teacher is included as Direct Labor for Learning Services 3. Wages growth rate is 5% each year Variable cost: We have three services in this project, in general, to estimate the variable cost, we estimate the variable cost beyond the number of customers we service. Services Included Shopping DIY Learning Bag Tool packgage 1 Tools package 2 Ingridients Using CP’s kitchen Using CP’s tools Teacher Services Included Bag Tool package 1 Tool package 2 Ingridients Using CP’s kitchen (gas, water, electricity cost,†¦) Using CP’s kitchen ‘s tools Teacher Total VARIABLE COST PER CUSTOMER Shopping DIY 500 3,500 Learning 500 3,500 15,000 3,000 10,000 500 3,500 15,000 50,000 3,000 10,000 50,000 132,000 4,000 32,000 Fixed cost per year for Selling and Admin activities: FIXED COST PER YEAR FOR ADMINSTRATIVE SELLING ACTIVITIES Detail Per month Per year Internet bill 250,000 3,000,000 Electricity bill 1,500,000 18,000,000 Water bill 200,000 2,400,000 Phoning bill 200,000 2,400,000 Advertising exp 6,000,000 Other exp 1,000,000 12,000,000 43,800,000 Expected number of customers: year 1 Shopping DIY Learning Total EXPECTED NUMBER OF CUSTOMER year 2 year 3 year 4 3500 4550 5460 2920 3796 4555 768 998 1198. 1 7,188 9,344 11,213 year 5 5733 4783 1258 11,774 6020 5022 1321 12,363 We assume that because this is a new services which haven’t existed in the market so it will have a numerous of customers The growth rate will be 30%, 10% and 5% for the year of 2, 3, 4 and 5 respectively , after the services enter the market. Total expense: Year 0 Total Variable costs Shopping DIY Learning Total Fixed costs Wages Depreciation House Renting Fixed cost of selling and admin Intersest payment Total cost TOTAL EXPENSE Year 1 Year 2 Year 3 Year 4 Year 5 208,816,000 271,460,800 325,752,960 342,040,608 14,000,000 18,200,000 21,840,000 22,932,000 93,440,000 121,472,000 145,766,400 153,054,720 101,376,000 131,788,800 158,146,560 166,053,888 512,380,000 354,000,000 29,700,000 60,000,000 43,800,000 24,880,000 721,196,000 528,160,000 371,700,000 29,700,000 60,000,000 43,800,000 22,960,000 799,620,800 544,825,000 390,285,000 29,700,000 60,000,000 43,800,000 21,040,000 870,577,960 562,419,250 409,799,250 29,700,000 60,000,000 43,800,000 19,120,000 904,459,858 359,142,638 24,078,600 160,707,456 174,356,582 580,989,213 430,289,213 29,700,000 60,000,000 43,800,000 17,200,000 940,131,851 Price of each services: Customer Year 1 Shopping DIY Learning Year 2 Shopping DIY Learning Year 3 Shopping DIY Learning Year 4 Shopping DIY Learning Year 5 Shopping DIY Learning 3,500 2,920 768 4,550 3,796 998 5,460 4,555 1,198 5,733 4,783 1,258 6,020 5,022 1,321 Variable Cost 14,000,000 93,440,000 101,376,000 18,200,000 121,472,000 131,788,800 21,840,000 145,766,400 158,146,560 22,932,000 153,054,720 166,053,888 24,078,600 160,707,456 174,356,582 Fixed cost Toatal cost Cost per customer Average cost in 5 year 512,380,000 51,238,000 65,238,000 18,639 15,138 230,571,000 324,011,000 110,963 92,074 230,571,000 331,947,000 432,223 360,406 528,160,000 52,816,000 71,016,000 15,608 237,672,000 359,144,000 94,611 237,672,000 369,460,800 370,053 544,825,000 54,482,500 76,322,500 13,978 245,171,250 390,937,650 85,822 245,171,250 403,317,810 336,637 562,419,250 56,241,925 79,173,925 13,810 253,088,663 406,143,383 84,915 253,088,663 419,142,551 333,186 580,989,213 58,098,921 82,177,521 13,652 261,445,146 422,152,602 84 ,059 261,445,146 435,801,728 329,932 Shopping DIY Learning Original Cost plus 1% Final Price Note: We calculate the total cost of a service and base on it to estimate the price 15,289 17,000 For the Shopping services, the price is the average profit we gain from each shopping bill 92,995 120,000Assume that the shop don’t have inventory because the goods are directly taken from agent 364,010 400,000 Revenue Plan: Year 0 Shopping Customer Profit/bill DIY Customer Price Learning Customer Price Total Growth rate of revenue (%) Year 1 EXPECTED REVENUE Year 2 Year 3 Year 4 Year 5 59,500,000 77,350,000 92,820,000 97,461,000 102,334,050 3,500 4,550 5,460 5,733 6,020 17,000 17,000 17,000 17,000 17,000 350,400,000 455,520,000 546,624,000 573,955,200 602,652,960 2,920 3,796 4,555 4,783 5,022 120,000 120,000 120,000 120,000 120,000 307,200,000 399,360,000 479,232,000 503,193,600 528,353,280 768 998 1,198 1,258 1,321 400,000 400,000 400,000 400,000 400,000 717,100,000 932,230,000 1,118,676,000 1,174,609,800 1,233,340,290 30 20 5 5 Because this is a completely new services, so after the first year, the number of customers increase sharply in the 2nd and 3rd year, but in the 4th and 5th year when Cake paradise (C has the competitor, ( who enter the market to join this segment), the growth rate of CP increase slightly at 5%. Profit Loss Plan: Year 1 Revenue Variable Cost Contribute Margin Fixed Cost Earning before Tax Tax Earning after tax PROFIT AND LOSS PLAN Year 2 Year 3 Year 4 Year 5 717,100,000 932,230,000 1,118,676,000 1,174,609,800 1,233,340,290 208,816,000 271,460,800 325,752,960 342,040,608 359,142,638 508,284,000 660,769,200 792,923,040 832,569,192 874,197,652 512,380,000 528,160,000 544,825,000 562,419,250 580,989,213 (4,096,000) 132,609,200 248,098,040 270,149,942 293,208,439 28% 28% 28% 28% 28% (4,096,000) 95,478,624 178,630,589 194,507,958 211,110,076 We can see that in the first year, because this is a new service and it needs time for the customers to know and have the habit to use this service, so the earning after tax for the first year is negative. After the first year,the number of customers who know and use Cake Paradise service increase (beyond word of mouth), the earning after tax for the 2nd, 3rd, 4th, 5th increase sharply. Break even for each year: Year 1 CM CM unit CM Ratio Break even point Break even revenue Safety of margin 508,284,000 70712. 9 0. 7088 7,246 722,878,741 (5,778,741) BREAK EVEN Year 2 Year 3 Year 4 Year 5 660,769,200 792,923,040 832,569,192 874,197,652 70712. 9 70712. 9 70712. 9 70712. 9 0. 7088 0. 7088 0. 7088 0. 7088 7,469 7,705 7,954 8,216 745,141,567 768,652,973 793,475,388 819,674,364 187,088,433 350,023,027 381,134,412 413,665,926 Cash flow: We have, cost of capital was calculated by WACC assumption: ( ( ) ) Year 0 Revenue Operating Expense EBITDA DA EBIT (1- Tax) NOPAT CFOP Capital expense Working capital Add W. C Free Cash flow Payback Period Cost of capital NPV IRR MIRR CASH FLOW Year 1 Year 2 Year 3 Year 4 Year 5 717,100,000 932,230,000 1,118,676,000 1,174,609,800 1,233,340,290 691,496,000 769,920,800 840,877,960 874,759,858 910,431,851 25,604,000 162,309,200 277,798,040 299,849,942 322,908,439 29,700,000 29,700,000 29,700,000 29,700,000 29,700,000 (4,096,000) 132,609,200 248,098,040 270,149,942 293,208,439 0. 72 0. 72 0. 72 0. 72 0. 72 (4,096,000) 95,478,624 178,630,589 194,507,958 211,110,076 25,604,000 125,178,624 208,330,589 224,207,958 240,810,076 (148,500,000) (45,000,000) (193,500,000) 2. 5 15. 30% 277,726,609 54% 30. 39% (45,000,000) 25,604,000 (58,500,000) (13,500,000) 111,678,624 (70,200,000) (11,700,000) 196,630,589 (73,710,000) (3,510,000) 220,697,958 (77,395,500) (3,685,500) 314,520,076 The Payback Period is: Conclusion: 1. 2. 3. 4. The project completely has the ability of reaching the break-even point from the first year. Payback period is nearly 2. 5 years, a very appropriate period in the whole process of 5 years. NPV is a positive numbers and IRR is at 54%, much more higher than the cost of capital. MIRR is at 30. 39%, a high figure. ? Although the initial investment is quite small, all the figures above have proved that this project is profitable and promises to bring high profit. Reference: Fundamental of corporate financial Book Vatgia. vn Kitchenart. wordpress. com Nguyenkim. vn â€Å"Special thank to Ms. Pham Lien Ha to helps us to do this project† How to cite Fin 202- Group Assignment, Essay examples

Robotic Process Relating to Accountings-Free-Samples for Students

Question: Discuss about the Robotic Process Relating to Accountings. Answer: Introduction The robotic process automation has taken a wave and is emerging as one of the fastest growing technologies in the digital arena. It is expected to replace the human effort in the accounting process and and is one of the types of technology on clerical process automation based on the concept of software based robotic systems and artificial intelligence. But, every new technology has both the positive and the negative attributes much like every coin has 2 sides(Visinescu, Jones, Sidorova, 2017). Though the robots will be process driven and will increase the level of accuracy, the speed, the efficiency and will surely improve the level of compliance of the accounting process but the question is will it be able to mitigate all the risks and challenges which we often see in the day to day accounting operations. Even though articficial intelligence has developed a great deal in the last couple of years, but it can never replace the human because of the lack of emotions, empathy and the la ck of motivation and intuition while making the business decisions. There are many such questions which needs to be answered which forms the base of this thesis(Washington, DC: U.S. Patent and Trademark Office. Patent No. U.S. Patent No. 9,555,544., 2017). Furthermore, the objective and the rational of this study is to fid the rationality of the introduction of robotics automation process in accounting system and how far is it sustainable in the modern accounting theory which asks for decision making in complex real life situations which need to investigate from various aspects and then to conclude based on the business and IFRS requirements. It can be said that this process is a replica of the human behaviour which is interacting with the user interface of the computer. In case, this is introduced, it will be a significant shift from the traditional forms of IT integration(Visinescu, Jones, Sidorova, 2017). This has been existing for a long period of time now in the form of screen scraping but the same has now emerged into more resilient, mature, reliance and scalable level which makes the large enterprise to believe and rely on it. Reasearch objective and research questions There are innumerable number of questions which needs to be answered in this aspect the most critical of which are mentioned below. The major objective of the study is to find out the viability of the technology looking at the pros and cons of RPA. The entire concept of RPA is based on the viualization which makes of the virtual network to execute the operations in the backend based on the user screen selection. It will therefore lead to a huge variety of costs, which needs to be seen by organizations whether the same be taken forward or not(Davis, 2017). The second question is the agility and the fact that RPA will be a robot which will run not based on the coding structure unlike the softwares but much like the virtual worker who can be paidly trained in the same way as human trains human. This is to be done using artificial intelligence. Ther efore it now needs to be checked that whether it will be able to repond in the same manner as human and in case any new situation arises, what will be its implication and how the same can be taken forward(Willcocks, Lacity, Craig, 2017). The other critical question in this aspect is the acceptance by the large organization or whether the same will be non disruptive as most of the IT technologies come with a lot of change and disturb te underlying computer systems in the organization. Because of this, they are reluctant to redesign or replace the existing systems(Belton, 2017). Therefore, the objective and the philosophy of the RPA is to avoid the risk and complexity of such kind of changes and to keep it restricted to light iT requirements. It is built on the platform that requires the user ID and password much like the human user which is very important from the security and integrity aspect. But even this is not enough from the security point of view and can be breached easily because of which extensive checking and testing of the systems is required. RPA doesnt needs extensive IT skills or technical support and has an ease of service which makes it possible to be used in business operational areas rather than the information technology departments. Therefore, it needs to be seen whether it has a business case based on the platform used and investment made. One of the other major objective of study is its impact on the society. One of the studies shows that it is to bring new wave of efficiency and effectiveness in the global labour market. Not all, but 35% of the total accounting jobs may be automated and regularised by 2035 as per the Oxford University. Renowned enreprenur in one of TED Talks stated that the introduction of the RPA model in the labour market will somewhat revolutionse the cost of the services industry and bring down the costs heavily, driving up the topline and the bottomline of the company. It will also improve the quality of the services rendered and will offer increased opportunity to the. Thus, it now needs to be seen whether the cost benefit analysis is on the proitive or negative end. One of the other author stated that this will lead to greater levels of job satisfaction and intellectual growth as it will bring out the robot out of humans so that the mundane and repeatative jobs van be performed by the robots w hereas more critical and meaning interpersonal roles can be managed by the humans(Willcocks L. P., 2017). The major questions to be resolved in this category include is the OCR Optical character recognition (handwritten) which is still a major problem to be resolved as a lot of companies are doing things on the paper. This is one of the huge problems which is being taken up with a number of companies. Similarly, image recognition is also one of the issues wher the computer is not able to read through the charts and diagrams. The appropriate technology is just now available now. The other question which adds to the preference towards RPA is the direct operation of the work and information upload in the cloud environment (Alexander, 2016). Multiple users can operate at a time from different destinations working on the same data using a single secure device. But the question here is how safe the conncetion is and how can be it relied that the data will not be lost and will not be overwritten or there will be a trail of the work in the system in the automated version. The other most important question here now is that can the robotics process automation minimise the risks and help in detecting and avoiding the frauds. The question is open as both the positive and negative aspects can be derived out of it. It very much minimises the risk by removing the inefficiencies, the human error element being a software tool and artificial intelligence driven tool. But, the risk equally increase in case the fraud has been commiteed before the transaction or accounting entry gets into the system. It is very difficult and nearly impossible for RPA to apply logics and rationale to identify the frauds and errors in the accounts and to correct the same. Hence, it results in further wrong accounting and complete mismatch and thereby increasing the risk(Kokina Davenport, 2017). Therefore, the to avoid the same, it is a must that the human needs to review and have a final check to ensure that the frauds are detected at the right time and thus corrected immediately a s RPA will be having a check only on the arithematical accuracy and the logical checks as fed in the system. The final question here is will robo accountants be able to replace the actual accountants or will thye ever be able to set up and take the same competency levels as that of the human beings. The answer to this question is a straight no as there will always be a gap in terms of the decision making and IQ issue (Pape, 2017). The grit, the risk, the agility with which a human can make the decision and help the business depending on the case and based on the time period required, the current set of RPA does not has the expertise to attain it. The RPA is just meant for some routine jobs which are process driven and away from fluctuations, whereas with humans, the change is permanent and there can be immense number of scenarios that can be developed. In short, it can be said that if human is a set, RPAs are the subsets which will ultimately have to have the human intervention. There are many such questions which need to be answered before the RPAs are being accepted universally across the companies and around the globe. But, all these questions can be answered and can be mitigated thus enabling the implementation of RPAs (Bromwich Scapens, 2016). There will be risks, there will be issues which are unforeseen during the tests, there may be scenarios which may not have been tested or even havent cropped up but all of it can only be tested, corrected and given effect to only when the step to implement it is taken forward. All the above mentioned questions and queries have been answered below in the literature review through a number of case studies and research. Literature Review As per the study by the Haward Business Review, most of the companies promised their employees that the process automation and the introduction of the robotics in the accounting division would not result in the lay off of the employees and thay they wold be redeployed to some complex and interesting work. One of the academic studies shows that instead of opposing this change as is generally done by the people in the organization to a modern paradigm shift, they embraced it and were not threatened. They instead embraced and accepted it whole heartedly viewing the robots as virtual team mates(Anginer Kunt, 2014). It further found that instead of reducing the worforce, the companies focused omn achieveing more work and greater productivity using the same no. of people and with improved technology. Whereas, they was one another group of analysts which consider this to be the threat to the business process outsourcing industry. As per this study, this will enable the company to make use of the technology to shift the processes from offshore location to the local data ecnters and retain the higky skilled process designers and replace the low skilled offshore workers. Thus, it still remains one of the important topics of debate and argument(Messinger, Rogers, Hawker, 2017). The future of RPA is still subject to a lot of discussions as the first movers take a lot of uses and derive manifold synergies out of it. It might be that the BPM and RPA tools are being converged much in the same way as BPM and workflow tool s are being seen into. The Pegasystems acquired OpenSpam in 2016 can be seen as one such step in the process. Some another study by the research analysts hints towards greater adoption of the artificial intelligence units in the RPA process so that informed and greater decision making cane be enabled and inferencing can be done. Process automation is the need of the hour and the rule based algorithms without compromising the IT infrastructure can expedite the back office processes in departments like finance, marketing, Human resources, audit , procurement , customer service, supply chain management, accounting including data entry jobs, creation of online access passwords, etc(Elimam, 2017). Also, RPAs can answer the basic queries to customer and employees in the natural language rather than in software codes, will be organizational specific with superior scalability and will have tailored replies to specific needs. Software robots can be trained easily and can be seamlessly deployed in the system. It can also prove to be handy in the voluminous and high transactional tasks as it can increase the speed and complete it in a fraction of seconds. Robots have the history of being involved in powerful analytical tools or results. It provides useful insights in the current business processes. All the activities done through it can be properly logged and interpreted using a reporting tool. Thus, it can help in achieveing greater compliance and improved governance too(Varghese, 2017). Besides providing the return of 30% to 200% in the long run in the last 12 months to the companies using the RPA, it has also been able to give the returns to the bottomline and contrasting the employees have shown increasing job satisfaction in terms of the quality of work allotted to them. Besides this it is also expected that the CAGR growth will be around 60.5% between the year 2017 and 2020. Although the entire idea of automating the processes is counted or categorized as business as usual, businesses are finding it easy to implement and learn as the ICT involvement is very low in this case(Gartland, 2017). The main reason being RPA only needs to address the requirements of the presentation layer and not define the business logics or data access layer in the underlying system(Lu, Li, Chen, Kim, Serikawa, 2017). The only disadvantage of using RPA and those opposing the introduction of RPA in the work space are of the belief that RPA would never be able to give accuracy and decision making and would never be able to mimic the human in terms of emotional intelligence, judgement, logical reasoning and customer interaction (Knechel Salterio, 2016). Technically speaking, this RPA work needs to be overall reviewed by the human employee before giving it a final go ahead. Furthermore, setting up the first step in automation through RPA might land up the businesses in the unexpected debts. Since the business are expected to change as per the environment, RPAs are also expected to change and get updated every now and then. In case this is being done, so overall we are maintaining the ICT environment at two different places. This means that the introduction of the RPA is not actually reducing the workload but increasing the workload and human requirement. Thus, RPAs is just a first step to the giant g oal of automation or implementation of the artificial intelligence as it can thus handle clear and non negotiable requirement at the best. Looking at the final pros and cons after the views from the experts, discussion on the topics at forums, primary and secondary data collection, following are the major advantages or the positive sides to it: It increase and improves the efficiency of the employee and enhances the speed at which the work may be executed. It helps the employees to stay motivated all throughout as they will be getting the final review work and more quality work as compared to the repeatative and mundane tasks. Hence, this will increase productivity(Laursen Thorlund, 2016). It can assist manifold in minimising the human error that can sometimes prove to be costly. This risk is fully negotiated and eliminated and accuracy is ensured. It can help in cost savings for the company in terms of increased productivity, low errors, and less manpower cost. Lower turnover ratio of employees thus helping in employee retention. The cons or the negatives points which crop out against the use of RPAs are: This will lead to increase in one time cost for the implementation of the RPAs, due to businesses are apprehensive of implementing it since the technology is changing, there may be further changes in future and the fear of this being obsolete is one of the major obstacle. Many are of the view that the implementation and the operation of the robotic process automation needs a lot of technical expertise due to which many are not being able to reap the significant benefits out of it(Rodriguez Kaczmarek, 2016). Since this is a major change and a completely new tool altogether, many fear that if gone wrong, it may lead to major reconciliation issues and thus disrupt the entire business processes. Another reason of resistance to use RPA is the concern that this may replace human workers when these RPAs are actually supposed to support humans in the workplace. All these hindrances are actually not the diadvantages but the fear of change in process and lack of understanding. This obstacles can easily be converted into opportunities with proper planning and control. Few companies have already implemented some forms of the RPAs in their businesses like Nestle, Bacardi, Ferroro and Unilever, etc in the customer automation management and supply chain management processes(Kewell Linsley, 2017). The potential benefits of the RPA and BPO side by side in a particular business can be seen in the above figure where in a Purely BPO interaction a company outsources its work to other KPO or company having the cost saving of 15% to 40% in 5 years alongwith reduction in business risk, increased transparency, improved customer satisfaction and other intangible benefits. On the contrary, the cost savings in case of RPA is extended to 10% to 65% as per the survey carried out by The National Association of Software and Services Companies (NASSCOM), within a period of 6-9 months. Other benefits accrued include the RPA can be set up within the business or it can be partnered with some other business services, it provides scalability, quality, accuracy and speed(Dai Vasarhelyi, 2017). The third case is a classic scenario where the RPO is set within a BPO since the nature of work of the BPO is on same grounds. In this model, the potential cost saving will be 50% to 95% as per The National A ssociation of Software and Services Companies (NASSCOM). RPA in BPO is a boon and adopts more often than not predictive approach and end to end integration and helps in developing an output and outcome based model. In this model, all the routine activities can be done through RPA and other decisive tasks can be done through BPO human workforce, thus helping in minimising error. Thus, all in all, entire list of questions have been answered and more or less, it is on the positive end and it looks that the future is of RPAs and they are set to replace the routine manual tasks of the people aiming to increase their productivity. It is also aimed at increasing the monitoring activity and tracking the deviations if any, thus helping in improving the reporting of the company(Vollmer, 2017). Research Methods There have been wide studies on the topic of Robotic Process Automation but the same has been wide school of thoughts coming from people all around the world and experts. There were different methods of research applied in order to prepare this thesis and to come to the conclusion. This include both the collection and analysis of the primary as well as secondary data points. Primary data includes asking of a list of questions mentioned above from a number of persons and capturing their view based on some rationale and the logics. Further more, the primary data collection also include the 1st hand experience of the service industries and particularly the IT industries which are discovering many things in the digital space every now and then. They are venturing into advanced artificial intelligence by the use of many means and are trying to built the infrastructure to support the same. The impact of RPA is so much so that it has the ability to replace 3 worker at the time. In less than 1 year of experimentation cycle, most of the companies have had a positive return on investment and further the cost reductions has been to the tune of 20% (Maynard, 2017). The reaserch was also done through the companies which have already implemented it in some or the other way like Nestle and Unilever, who have also reported in the annual report of the company and the benefits derived out of it. It has been reported that the cost is very less as compared to the benefit derived out of it. Further more, it is expected that many other MNCs are going to implement the same in the shared service centres in collaboration with the BPOs by the end of 2020 economising the benefits derived out of it (Kohtamki, 2017). The secondary data point includes comparison of the cost benefit analysis of the RPA with the business process outsourcing centres which again are trying to reduce the costs by implementing this for all the routine tasks. Also, it included the excerpts from the research analysts and other business experts who have commented on both the pros and cons of the RPAs in the coming future. They have also tried to highlight the opportunities available and the lack of acceptance to change and learn new things as the reason for opposing it(Bygstad Iden, 2017). Conclusion As per the above study and comments and views by the research analysts, it can be fairly concluded that the field of Robotic Automation Process is one that is still under research and development and a fairly good amount of work needs to be done before it can be seen in a full fledged manner. However, considering the benefits it has got, it is sure to be introduced in almost every business and company in the coming 10 years or so. With every change, comes some resistance on account of the risks embedded in the opportunity but in case the risk can be mitigated well, the same can be utilised in a manifold way. Leveraging through RPA is a next big step in the accounting arena and a lot of industries have already introduced it. With this, they aim to optimise the cost, increase the productivity, efficiency and effectivity and shift the operations from offshore to onshore and thus, freezing up of resources. The above table is evident of the Robotic Process Automation opportunity market. This helps in concluding fairly that the RBA is helping inalmost every industry with the specific requirements like card activation and fraud claims recovery in case of banks and financial institutions, bill of material generation in the manufacturing entity, claim processing and business case preparation in case of insurance companies, reports automation and system reconciliation in case of health care industries (Arnott, Lizama, Song, 2017). Moreover, besides all this, RPA is something which can handle few of the critical and time taking activities in almost any industry like the vendor and customer reconciliation, bank reconciliation, general ledger accounting, invoice processing once the approval to process the order has been made in the system. 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