Effectiveness Of Mbct Against Other Approaches Psychology Essay

Effectiveness Of Mbct Against Other Approaches Psychology Essay Mindfulness-based Cognitive Therapy (MBCT) is increasingly used in adult mental health treatment. Compare and contrast the effectiveness of MBCT to other approaches. Mindfulness-Based cognitive therapy (MBCT) is a relatively new class-based program designed by Segal, Williams and Reasdale, 2002. The program was designed to prevent future relapse for people who suffer from major depression (Coelho, Canter, Ernst, 2007). This approach to psychological prophylaxis, based on current metacognitive concepts on information-processing, was designed based upon the integration aspects of CBT (Beck et al., 1979) and the mindfulness-based stress reduction programme (MBSR) developed by Kabat-Zinn and colleagues 1990.(REFERENNCE) Recently there has been a growth of interest in mindfulness-based psychotherapeutic approaches across a range of medical problems. Although the current empirical literature includes many methodological flaws, findings suggest that mindfulness-based interventions may be helpful in the treatment of several disorders such as pain, stress, anxiety, depressive relapse, and disordered eating. (Baer, 2003) Mindfulness based cognitive therapy combines the practice and clinical application of mindfulness meditation with the tools of cognitive therapy. This paper aims to explore mindfulness based cognitive therapy in terms of schema theory in contrast to Wells S-REF model. A number of theorists have raised concerns over the limitations of schema theory, and have put forward revised frameworks for the conceptualization of cognitive processing in emotional disorders. Teasdale and Bernard (1993) believe that if people think negatively then that is the consequence of depression, rather than the cause of it, and the dysfunctional attitudes during an episode return to normal after recovery. Alladin (1985) conducted a longitudinal study which provided evidence that challenged the belief that negative cognitions caused depression. The primary focus of schema theory and cognitive therapy has been on the content of thoughts and beliefs rather than the cognitive processes. However, Becks schema theory explains the content of peoples thoughts but not on the style of their thinking. For example, overcritical parents, who never praised their child for success maybe the explanation for the definitive core believe (I am a failure) through the theoretical framework of schema theory. Although the model explains the content of peoples thoughts it does not give an explanation for the development of the distinct mode of thinking, for example, only processing information that backs up the failure theme, which is, the mistakes the person has made and the goals they have not achieved. However, Wells (2000) considers that these issues are missing links between cognitive theory and therapy. It is seen that how people think is an important dimension that has implications on the maintenance of psychological disorder and recovery. (REFERENCE) Teasdale et al. (2002) investigated the effectiveness of the mindfulness-based approach in prevention and relapse. Teasdale had 145 recovered randomised depressive patients to continue only treatment as usual or to receive mindfulness-based cognitive therapy. The patients were assessed over a 60week period the results showed that, for patients with three of more depressive episodes in the past, Mindfulness-based cognitive therapy reduced the risk of relapse, moreover, patients with only two depressive episodes sited no change. Teasdale et al. (2000) concluded that these results were clinically significant because the relapse rates of the group with the highest risk of reoccurrence had been halved. Teasdale et al. (2002) found that the combination of cognitive therapy and mindfulness-based cognitive therapy, as a result, metacognitive awareness is increased and depressive relapse is reduced. It can be seen that both approaches encourage a shift in a persons relationship with negative thoughts rather than a change of the thought itself. Despite the overall efficacy of the mindfulness approach, there are still theoretical limitations which need to be addressed which might lead clinical developments further in cognitive therapy. Baer 2003 emphasized a number of methodological problems whilst the research studies where taking place, noting that there were a major limitation to this approach. Baer criticizes the majority of studies examining the effects of mindfulness training, as they never used control groups. Moreover, TAU (treatment as usual) consisted of medical or unspecified psychotherapy approaches which does not allow the comparison of the effects of mindfulness interventions with specific psychological approaches. Bishop 2002 also questions the result from Teasdale et al. 2000 study, by stating that combining two forms of treatment together; it is difficult to draw any solid conclusions about the effectiveness of mindfulness-based approach in prevention of depressive relapse. Furthermore Bishop 2002 refers to problems with the conceptualization of mindfulness. Western descriptions up to now have been consistent with the Buddhist tradition which normally does not go beyond a descriptive nature. As of yet there have been no attempts to develop any qualities or the criteria of the mindfulness approach which have not been operationalised. Individuals experience and judge the effectiveness of mindfulness in different ways, which presents the problem of the determination of the criteria which are responsible for preventing patients from relapse and depression more difficult. Therefore the validity is in question due to the lack of evidence to support the definition of the construct. Bishop 2002 goes on to argue a conceptual definition is needed before the validity is tested. In this vein, Baer (2003) postulates the necessity of more randomized control trials to clarify whether observed effects are due to mindfulness interventions of to confounding factors such as placebo or passage of time. Furthermore, Wells (2000) criticizes the theoretical background of the mindfulness approach, the interactive cognitive sub-systems model, and states that one of its greatest limitations is the Implicational code concept and its circularity as it is difficult to define exactly what it means and where to locate implicational meaning in the information processing context. Moreover, Wells (2000) argues that the mindfulness awareness concept does not describe which component of self awareness improves or worsens emotional disorders. Wells (2000) then presents an alternative model of self-regulatory information processing (S-REF) which overcome the limitation of interactive cognitive sub-systems by using metacognition and attention in the centre of development and emotional disorders, rather than implicational meanings (e.g., ICS). Wells S-REF model is uniform with the schema theory, however it also incorporates aspects of cognitive architecture such as, regulation of attention and other components the individuals schema. The S-REF approach by Wells (2000) underlines the importance of restructuring maladaptive metacognitive beliefs as well as non metacognitive beliefs on schemas, which provides different clinical implications for cognitive behaviour therapy. New tools are then required for the restructuring of new therapeutic techniques in order to monitor and modify the metacognitive processes. An example of one of these new tools is metacognitive profiling (Wells, 2000) is to identify metacognitions like meta-beliefs, coping strategies, attention or memory that are activated in stressful situations. Wells (2000) and colleagues developed three different metacognitions questionnaires, an example of theses are , the Thought Control Questionnaire (TCQ) (Wells, 2000), which assess and monitor metacognitionin in patients during their treatment. Other than monitoring metacognitions, Wells (2000) presents two different techniques to restructure cognition, i.e., modify attention (Attention Training Technique (ATT) and Situational Attention Refocusing (SAR)), which have some similarity with the mindfulness approach but without the focus on meditation. The theoretical model of self-regulation mechanisms in emotional disorder developed my Wells is important for the future development of cognitive therapy. The S-REF model seems to create the missing link between cognitive theory and therapy that Wells (2000) identified and could possibly form a base for the advancement for cognitive therapy in the future (Scherer-Dickson, 2004). It would be premature to attempt to draw conclusions about the effectiveness of Mindfulness based cognitive therapy as it is still in its early days of research. Given the growing interest in MBCT is should be seen as to consider the way in which future research should be directed, and not be critical on current effectiveness of the model. (Coelho, Canter, Ernst, 2007). Evidence that is circulating gives some indication that MBCT may be effective in treating a cognitive style that is characterised with depression. Kingston et al., 2007 noted that MBCT may be useful in treatment of residual depressive symptoms, however, these findings are not due to any specific effects of MBCT. (Coelho, Canter, Ernst, 2007). Further methodological testing is still required gain more insight into the developments to give this approach an even more robust foundation (Scherer-Dickson, 2004). New models developed on the basis of findings in cognitive sciences and cognitive theories about information processing and emotional processing (see Rachmann, 1980; Teasdale, 1999b) seem to have a major impact on the understanding of the development and maintenance of emotional disorders. The new models of cognitive processing do have clinical implications for cognitive therapy that goes beyond the framework of Becks schema theory (Beck et al., 1979). Apart from the development for prevention of relapse of depression with mindfulness-based cognitive therapy, Wells (2000) has gone on further to develop metacognitive aspects of emotional disorders. On looking at the models and theories outlined in this essay, changing the relationship that people have with the way they think, instead of changing the content of those thou ghts, has a major impact on therapy outcomes and relapse prevention (Schere- Dickson, 2004). It is clear to see that Mindfulness-based cognitive therapy for depression is a cost-effective treatment programme for prevention of relapse. It goes on to teach patients skills in which they can identify high risk situations, and change their attitude to accept the way in which they think. The programme works better for those who seem more vulnerable and enable them to break the cycle of lifelong course of recurrent depression. The high relapse rates for depression underline the importance of prophylactic treatment during periods that fall between acute depressive episodes. Group programmes, like the one presented, could have a major impact on health services as they are cost-efficient and seem to work especially well with recovered patients that are very likely to relapse. (Scherer-Dickson, 2004)

Importance of a Warm Up Essay

A warm up helps to prepare the body for the physical exertion to come. It gently raises your pulse rate and therefore, your cardiac output increases and also your rate of ventilation. Your vasomotor centre makes sure that more blood is being distributed to the working muscles. This combined affect is to increase the amount of oxygen that is delivered to the muscle cells. This helps to reduce the oxygen deficit when you start carrying out the actual activity. A Warm up is very important as it helps to reduce the possible chances of injury. It raises your body temperature in your muscles as there is an increase in the blood flow which raises your body temperature in your muscles, making them more responsive. The elasticity of muscle tissue is increased and more oxygen can be carried to the working muscles. This will help to prepare the body for the activity to come. Throughout a warm up routine, it consists of stretching exercises and this increases your flexibility and so directly reduces the risk of injury. The reason for this is that; a muscle or tendon group with a greater range of motion will be less likely to experience tears when used actively. Stretching also helps to improve recovery and may enhance the participant’s performance. Additionally, increased flexibility of the neck, shoulders and upper back may improve respiratory function. The nervous system becomes stimulated which makes sure you more alert and aware and therefore it gets you psychologically prepared. This will help to increase your levels of motivation and determination to carry out your dance sessions. The benefit of a warm up is that the muscles torn most frequently from the neglect of a warm up are the antagonists (such as the hamstrings- Semimembranosus, Semitendinosus, biceps femoris) to the strong contracting muscles (such as the Quadriceps- Vastus medialis, Vastus lateralis, Vastus intermedius, rectus femoris). Cold antagonistic muscles relax slowly when the agonists contract, therefore free movement and accurate co-ordination is retarded. At the same time, the force of the contraction of the agonists and the momentum of the moving part exert a great strain on the unyielding antagonists. Without a warm up, this may lead to the tearing of the muscle fibers or the tendons. Stretching exercises I will stretch, moving a joint to just beyond its point of resistance. Flexibility is limited by the joint itself, ligaments and tendons acting upon it. I cannot change the bony structures or the type of joint, but I can stretch the soft tissue surrounding the joint. Neck (Sternocleidomastoid and scalenes) * Turn head to the left, then to the right. * Look up and then down. * 5 Neck rolls to the right and then 5 neck rolls to the left. * Shoulders, back and arms * I will Circle arms 10 times forward, 10 times backward and then rotate arms alternating. This will mobilise my shoulder joint. * I will Stretch my Trapezius by pulling one arm that is kept straight across the chest with your other arm supporting it in its position. This is a horizontal flexion movement. * I will stretch my triceps brachii by flexing my elbow and placing my hand behind my head on by back and my other hand puts pressure on the flexed elbow joint. Wrists and fingers * I will rotate my wrist joints, clap my hands together rapidly and then bend and mobilise my fingers. Hips * I will mobilise my hip joint by placing my hands on my hips and doing 5 hip rotations to the left and then 5 to right. Rotate my hips by raising my leg (with a bent knee so it is at 90 degrees to my body) then I will turn my leg outwards to the side of my body. Spine * I will stretch my vertebral column by crouching down onto my knees and placing my hands on the floor reaching as far as I can. Legs * I will Stretch the Vastus Lateralis, Vastus Intermedials, Vastus Medialis and Rectus Femoris by pulling the ankle with your hand on the same side of the body keeping the knees together while maintaining the correct spine alignment. My hips should be square (I will make sure they do not twist.) If I find it difficult to keep my balance I will hold onto my ear with my other hand and focus. * I will stretch the Semitendinosus, Biceps Femoris and Semi Membranosus by placing one foot in front of the other; bend your back knee while keeping my front leg straight. Raise the hips and lean your body slightly over. After holding this stretch for 10-15 seconds, I will slowly raise the toes of my front foot so that they point towards the ceiling (I will keep my heel firmly on the ground.) Doing this will produce a full stretch down the back of the leg, i.e. Semitendinosus, Biceps Femoris, Semi Membranosus and Gastrocnemius. * I will move my legs apart (wide stance), I will then bend forwards with my hands flat to floor. * Right foot behind left at 90 degrees right leg flexed, left leg straight, bend forward to left foot. Left foot behind left at 90 degrees left leg flexed, right leg straight, bend forward to right foot. * To stretch the Adductors Longus, Brevis and Magnus both feet will be flat on the floor and facing forward. I will lean over to one side keeping the other leg straight, bend the knee at the side you are leaning over to increase the intensity of the stretch. * To stretch my Gastrocnemius I will put one foot in front of the other and bend you’re your front knee. The back leg will be kept straight and the rear heel will be kept firmly on the floor throughout the stretch. This stretch is often carried out against a wall. The Gastrocnemius is stretched by flexing your elbows and moving your body weight forward. Stretch forward until you feel a gentle pull in the lower leg. * To stretch the Soleus, the front knee is bent and is pushed towards the ground, while staying over and just in front of the foot. A gentle pull should be felt in the lower one third of the leg. The knee can then be directed medially and laterally to stretch different areas. Ankles * To mobilise my ankle joint I will move the sole of the foot inwards (inversion) and then turn it outwards (eversion). * I will then move the foot downwards (away from the tibia) which is known as plantar flexion and then I will move it upwards (towards the tibia) and this is known as dorsi flexion. This mobilises the Tibialis Anterior, Gastrocnemius and Soleus.

Holly Fashion

cASE 6 HOLLY FASHIONS RAT I O A N A LYSI S Billion-dollal a pparel c ompanies s uch a s C alvin K lein a nd L iz C laiborne a re unusual i n t he g arment i ndustry, w hich c onsists p rimarily o f m uch s malier apparel m akers. O ne s uch f irm i s H olly F ashions ( HF), l ocated i n C herry F lill, New J eriey. H F w as s tarted 1 4 y ears a go b y W illiam H amilton a nd J ohn W hite, who b etween t hem h ad o ver 2 5:yearso f e xperiencew ith a m ajor g arment m anufacturer.A nd t he p artnership i nitially b lended v ery w ell. H amilton, r eserved and i ntrospective, i s e xtremely c reative w ith a r eal f lair f or m erchandising a nd trend s potting. M ainly a s a r esult o f h is g enius, t he H F l abel i s s ynonymous with q uality a nd † tn† f ashions. ‘ h ite, o Utgoing a nd f orceful, h as c ontributed important m erchandising a nd m arketing i deas, b ut h as m ainly a ssumed t he duties o f t he f irm's c hief o perating o fficer.Hamilton h as h a d l ittle i nterest i n t he f inancial a spectso f t he c ompany, m uch preferring t o w ork o n d esigning n ew f ashions a nd t he d evelopment o f m arketing s trategies. A f ew m onths a go, h owever', h e d ecided t hat h e h ad b etter' become m ore i nvolved w ith t hd c ompany's f inancials. His m otivation i s t wofold. F irst, h e i s c onsidering t he s ale o f h is 5 0 p ercent interest i n H F. T hough h e m joys t he c reative s ide o f t he b usiness,h e i s t ired o f the c ash c runches t hat t he f irm h as e xperiencedi n r ecent y ears.P eriodically, t he retailers H F d eals w ith h ave e ncountered f inancial p loblems a nd h ave s tlung out t heir p ayments, w hich o ften c aused a m ad s cramble f or c ash a t H F A nd i f Hamilton d ecides t o s ell, h e k nows t hat h e i s l ikely t o b e i nvolved i n s ome stressful n egotiations s urrounding t he c ompany's v a1ue. T hough h e w ould h ire a c onsultant t o a id h im i n a ny,negotiations,h e d ecides i t i s a g ood i dea t o e ducate h imself a bout H F's f inancials.Another r eason t hat H amilton i s i nterested i n t he f irm's f inancials i s s o h e can b etter j udge t he m anagerial c ompetence o f l Alhite. Ahen I IF w as s mall Hamilton t hought W hite d id a f ine j ob, b ut n ow h e w onders w hether / hite i s capable o f r unning a f irm a s l arge a s H F. A ctually, i f H amilton w ere c onvinced that W hite i s a c ompetent m anager, h e w ould n ot c onsider s elling o ut s ince h e 36 PARTI I F INANCIALA NALYSIS genuinely e ntoys b eing a n o wner o f a n a pparel f irm.B ut h e t hinks t he a pparel industry w ill f ace e ven t ougher t imes i n t he n ext f ew y ears, a nd w onders i f ltrhite i s t alented e nough t o s uccessfullym eet t hese c hallenges. BORROWING CONCEB. NS A4rite's p ersonality i s s uch t hat h e m akes v irtually a ll m ajor o perating a nd financial d ecisions. A n i mportant e xample o f t his w as h is d ecision t hree y ears ago t o r etire a ll l ong-term d ebt/ a m ove t riggered b y W hite's f ear t hat H F's b usiness r isk w as i ncreasing.H e c ited t he d ifficulties o f s eemingly r ock-solid r etailers l ike B loomingdale's a nd C ampeau t o s upport h is c laim. I M-Lite i s a lso concerned t hat f irms t he s ize o f H F h ave h ad d ifficulty m aintaining s table b ank relationships. D ue t o i ncreasingly s trict f ederal r egulations, s ome b anks h ave called i n l oans a t t he s lightest t echnicality, a nd m ost a re s crutinizing n ew b usiness l oans v ery c arefully. C onsequently W hite v iews b ank d ebt f inancing a s â€Å"unreliable† a nd t hinks t hat l oan o fficers a re c apable o f † chewing u p m y t ime. Harnilton isn't sure what to make of these arguments, but he is concerned that this debt avoidance has significantly reduced FIF's financial flexibility because it means that all protects will have to be equity financed. In fact, over the past five years t here h ave b een n o d ividends b ecausea ll e arnings h ave b een r einvested. And two years ago each of the partners had to contribute $15,000of capital in order to m eet t he c ompany's c ashn eeds. A nother i nfusion o f c apital m ay b e n ecessary sincet he f irm's p resentc ashp osition i s l ow b y h istorical s tandards. ( See xhibit 2 . E More j mportantly, h owever, H amilton f eels t hat t he c ompany i s n ot b enefiting f rom t he l everage e ffect o f d ebt f inancing, a nd t hat t his h urts t he p rofitabiiity o f t he f lrm t o t he t wo o whers. WORKING CAPITAL CONCERNS Hamilton s uspectst hat F {F'si nventory i s † excessive† a nd t hat † capital i s u nnecessarily t ied u p i n i nventory. † n/hite's p osition i s t hat a l arge i nventory i s n ecessary t o p rovide s peedy d elivery t o c ustomers. H e a rgues t hat † our c ustomers expect q uick s ervice a nd a l arge i nventory h elps u s t o p rovide i t. Hamilton is skeptical of t his argument and wonders if there isn't a mole efficient w ay o f p roviding q uicker s ewice. H e k nows t hat a c onsultant r ecommended t hat H I † very s eriously† c onsiderb uilding a s tate-of-the-artd istribution center. T he p roposed f acility w ould a liow F {F t o r educe i nventory a ld a lso handle big orders from retailers such as Kmart and Wal-Mart. VVhite rejected the suggestion a rguing t hat t he e sttnated $ S-million t o $ 8-mi11ion ost i s e xcessive. c Hamiiton a lso q uestions / hite's c redit s tandards a nd c ollection p rocedures.Hamilton t hinks t hat / hite h as b een q uite g enerous i n g ranting p ayment extensions t o c ustomers, a nd a t o ne p oint n early 4 0 p ercent o f t he c ompany's receivablesw ere m ore t han 9 0'davs o verdue. F urther. / hite w ould c ontinue t o . C ASE6 H OLLYF ASHIONS 37 accept and ship orders to these qetailers eyen when it was clear that their ability t o p ay w as m arginal. l hite's p osition i s t h at. he d oesn't w ant t o l ose s ales and that the rough times these retailers face are only temporary. Hamilton also wonders about the wisdom of passing up trade discounts. HF is frequently offered terms ol 1. 1. 0, net 30. That is, the company receives a l-percent discount if a bill is paid in ten days and in any event full payment is expected within 30 days. ffiite rarely takes these discounts because he â€Å"wants t o h old o nto o ur c ash a s l ong a s p ossible. † H e a lso n otes t hat † the d iscount isn't especially generous emd 99 percent of the bill must still be paid. † FINAL THOUGHTS Despite ill of Hamilton's concems, however, the retationship between the two partners has been relatively smooth over the years. And Hamilton admits that he may be unduly critical of y'hite's management decisions. After al1,†he concedes, † the m an s eems t o h ave r easonsf or w hat h e d oes, a rd w e h ave b een i n the black every year since we started , which is an impressive record, really, for a f um i n o ur b usiness. † Further, Hamilton has discussed with two condultants the possibility of selling his half of the firm. Since FIF is not publicly traded, the market value of the company's s tock m ust b e e stimated. T hesec onsultants b elieve t hat H F i s w orth between $55 and $55 per share, figures that â€Å"seem quite good† to Hamilton. QUESTIONS 1 Calculate the firm's 1995ratios listed in Exhibit 3. . P art o f H amilton's e valuationw ill c onsisto f c omparingt he f irm's r atios t o . the industry numbers shown in Exhibit 3. (a) Discuss the limitations of such a comparative financial analysis. (b) In view of these limitations, why are such industry comparisons so frequentlym ade? 3, Hamilton thinks thai the profitability of the firm to the owners hasbeenhurt by White's reluctanceto use ftuch inteiest-bearing debt. Is this a reasonable position? E xplain. 4. The case mentions that {hite rarely takes trade discounts, which are typically 1 /10, n et 3 0.D oest his s eeml ike a w ise f inancialm ove? E xplain. 5. C alculatet he c ompany'sm arket-to-book dV/BV) r atio. ( Therea re 5 ,000 O shares f c ommons tock. ) o 6. Hamilton's position is that White has not competently managed the firm. Defend this position using your previous an. swers nd other information in a the c ase. 38 PARTII FINANCIAL ANALYSIS 7. Vy'hite's position is that he has effectively managed the firm. Defend this position using your previous answers and other information in the case. 8. Play the role of an arbitratoi.Is it possible based on an examination of the firm's r atios a nd o ther i nformation i n t he c aset o a ssessW hite's m anagerial competmce? Defend your position. 9. ( a) A re t he r atios y ou c alcul:ited b ased o n m arket o r b ook v alues? E xplain. (b) W ould y ou p refer r atios b ased o n m arket c ir b ook v alues? E xplain. EXHIBIT 1 Holly F ashions'I ncome S tatements:1 993-1996 ( 000s) 1993 Sales Costo f g oods Grossmargin Adrrinistrative Dq)reciation EBIT lnterest EBT Taxes Net income 1994 1995 1996 $985. 0 748. 6 236. 4 169. 4 10. 8 56. 1 7. O 49. 1 19. 7 $1,040. 0 n4. $1,236. 0 $1,305. 0 978. 8 202. 8 1 14 51. 0 4t. 0 18. 0 $27. 0 a7a', 307. 8 236,I 13. 6 58. 1 53. 1 21. 7 _-$3L9 249. 3 '14 4 62. 6 58. 5 23. 5 ___$99! EXHIBIT 2 BalanceS heetso { t he H olly F ashionsC ompany: f 993-1996 ( 000s) 1993 ASSETS Cash $40. 4 Receivables r53. 2 Inventory 117. 0 5. 9 Other cwrent Current assets ‘u. 8 Grossf ixed Accumulaied depreciation (12. 0) 32. 8 Net fixed Totala ssets $349. 3 1994 1995 1996 $s1. 9 158. 9 121. 1 6. 2 338. 0 58. 9 (23. 4) __35t $38. 6 ‘t75. 1 $10. 6 224. 8 19L. 9 7. 8 435. 1 96. 4' (s1. 4) 45. 0 $480. 1 193. 4 7. 4 414. 5 78. 1. _a;l continued) C ASE6 H OLLYF ASHIONS 39 EXHIBIT 2 (Contirwed) t993 LIAB]LITIES & NET WORTH Accounts payable Debt due Accruals Current liabilities Long-term debt Common s tock Retained e arnings Total L &NW $53. 8 10 . 0 | 1 9. 7 , 8 3. 5 60. 0 150_0 1994 1995 r996 $v. f $85. 2 10. 0 24. 7 120. 9 40. 0 180. 0 114. 6 $u. 2 10. 0 26. L 120. 3 30. 0 180. 0 149. 8 $48q. 1 10. 0 26. 0 90. 7 50. 0 150. 0 82. 8 $349. 3 $455t EXHIBIT 3 Financial R atios { ot t hb H olly F ashionsC ompany: 1 993-1996 Ind*r11 (Presen] r993 r994 1995. 3. 7 3. 4 2. 6 ‘L7 1. 8 1. 3 1. 6 .8 r996 1993-19961. Liquidity RatiosCurlent Quick Leverage atios R Deb(%) 41.. 1 37. 7 35. 3 8. 0 8. 5 11. 6 6. 4 6. 4 4. 8 FixedA sset Turnover 30. 0 29. 3 30. 1 TotalA sset Turnovet 2. 8 2. 8 2. 7 Timesinterest eamed Activity Ratios lnventory Tulnover (CGS) 47 57 71 3. 9 1. 3 8. 1 6. 0 40 25 72 3. 5 2. 8 2. 0 (continued) P ARTI I F INANCIALA NALYSIS DGIIBIT 3 (Conrinued) Ifld – r) 1993 1994 1995 AverageCollection Period Days Pulchases Outstanding** (Present) 1996 1993-1996+ 50 68 18 31 25 32 ProfitabilityR atios M Gross argin ( %) 24. 0 25. 5 24. 9 Net Profit Margin (%) 3. 0 2. 6 2. 6 Return on Equity (%) 14. 3 11. 6 0. 8 8. 4 7. 2 7. 0 5. 8 6. 0 6. L Retum on Total ( Assets %) Operating Margin*** (%) 26 3. 1 ‘1. 2 27. 3 19. 5 7. 8 11. 8 8. 7 9. 9 7. 2 3. 1 iThe thrâ‚ ¬e numbers for each ratio arc comPuted in the following wsy. Ratios for all firms in dre indushy are arranged in what is considerâ‚ ¬d a strontest-to-weakest order' The middle number rePlâ‚ ¬senis the median ratioj that is, half the firms in the industry had mtios better than the median ratio and half had ratios that werâ‚ ¬ worse The top nunlber represents the uPPer qua4ile figure; meaning 25 Pelcent of the firms had ratios befter tlran this.The lower number represents the lowest quaftile, that is, 25 Percent of the firms had ratios worse than this. *†This shows the average lentth of time that trade debt is ouhtandint. AIso caled the averate Paymeni Period. Calculated ; is A /P – ( CGS/360). 1**Calculateda s ( EBIT + D ep)/Sales.

I Was The Best For Me - 998 Words

In 5th grade, when we were given the choice to be in band, I was very anxious to start. We had to meet with Mrs. Jones to try a few different instruments before making a decision. I considered percussion and the clarinet (only because my sister had played it), but I really wanted to try out the trombone. In the end, Mrs. Jones decided the clarinet would be the best for me, mostly because I could use my sisters and not have to buy a new instrument. At the time, I was happy with the choice, mostly because I was excited to be playing anything! Throughout 5th grade, I practiced the clarinet and made my way through our first practice book. I enjoyed band class and lessons, especially getting to be with some of my friends, but I kept thinking about the trombone. I still wanted to play it. By the end of the year, I made up my mind. I was going to play the trombone. I talked to my parents, and my mom talked to Mrs. Jones, allowing me to take the school’s trombone home over the summer between 5th and 6th grade. As soon as I got the trombone, I couldn’t contain my excitement. I took it right out of the case and put it together. I was at my parents’ work, but I was determined to play. I went into their parts room where I could be alone and I tried to remember what little information I knew about playing the trombone. I buzzed my lips, which resulted in a great deal of spit, put my mouth on the mouthpiece, and ta-dah! The first glorious sound of a brand-new trombonist came out of theShow MoreRelatedThankful For My Grandfather Essay819 Words   |  4 Pagesthough my grandparent is not here with me today, he had such a positive influence. If someone were to ask me who I would be thankful for, I would say my grandfather, my parents, and the gifts God has given me. 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