The Diary of Gregor Samsa in The Metamorphosis - 1454 Words

Statement of Intent While acknowledging that most narratives written in the third person can be adequately revealing, and that a third perspective is sometimes necessary or even essential to the success of a particular narrative; taking into account the context, themes, and symbols of this work, I strongly believe that a personal diary would be imperative if one was seeking to decode some of the underlying emotions, thoughts, and experiences that can be overshadowed by a lack of a first person point of view in the body of a work. Another reason for this approach is that there is a strong correlation between a diary and discovering the workings and development of one’s actions and objectives, and that is exactly what needs exploration in†¦show more content†¦Ever since my father chased me, and threw apples at me, even managing to stick one in my back, the bedroom has become my domain—a place of refuge—for if I ever stepped a foot out of the boundaries of my confinement, my f ather, and God forbid, my mother and only sister would extinguish my being. But what more could they do to harm me that they haven’t already done? What more could they do to alienate me from my job; even my body so that I can no longer recognize distinct features that characterized my identity? While I have lost a segment of my humanity; my voice, I have ironically regained a greater portion of my humanity, so that my qualities become clearly defined and accentuated, in a manner that uncovers truth concerning both myself and members of my family. I have distinguished myself entirely from my household, because in my transformation I am separated from them, mostly by neglect and abuse, and because I have convinced myself of the truth—that perhaps it was better this way for them and me. Throughout this time, I have come to realize what matters most—that is, caring about myself for once and nourishing my needs. I now remember the time when my mother and sister deci ded to remove some of the furniture in my room, and how deeply distressed I was then and after. The reason being, those were the only possessions I had left of my old life and they were the only things thatShow MoreRelatedThe Metamorphosis By Franz Kafka1380 Words   |  6 PagesEssay: â€Å"I cannot make anyone understand what is happening inside me. I cannot even explain it to myself†: A Psychoanalysis reading of â€Å"The Metamorphosis† by Kafka The Metamorphosis is known to be one of Franz Kafka’s best works of literature. It demonstrates the interconnection between his personal life and the protagonist, Gregor Samsa, of â€Å"The Metamorphosis.† Franz Kafka was born in 1883 and grew up in a financially stable Jewish family in Prague. He was the only son left after the death of hisRead More The Metamorphosis as a Depiction of Franz Kafkas Life Essay1184 Words   |  5 PagesThe Metamorphosis as a Depiction of Franz Kafkas Life The Metamorphosis is said to be one of Franz Kafkas best works of literature. It shows the difficulties of living in a modern society and the struggle for acceptance of others when in a time of need. In this novel Kafka directly reflects upon many of the negative aspects of his personal life, both mentally and physically. The relationship between Gregor and his father is in many ways similar to Franz and his father Herrman. The MetamorphosisRead MoreExploration of the Common Ground Occupied by the Metamorphosis and the Wasp Factory.996 Words   |  4 PagesMetamorphosis by Franz Kafka explores the troubles of a young man named Gregor. The Wasp Factory explores the troubles of a young man named Frank. In Metamorphosis, the protagonist in the story is Gregor Samsa. He is a travelling salesman who awakes one morning to discover he has turned into an insect. It seems that Gregors only use purpose in life is to work and support his family; this seems his own concern when he finds himself as an insect. The next train went at seven oclock; to catchRead MoreThe Metamorphosis By Franz Kafka1435 Words   |  6 Pagesdegradation and cruelty. (Bloom) The Metamorphosis is said to be one of Franz Kafka’s best works of literature. It shows the difficulties of living in a modern society and the struggle for acceptance of others when in a time of need. (Bloom) The Metamorphosis is about a young man, Gregor Samsa, who is transformed overnight into a bug. He soon becomes a disgrace to his family. After his metamorphosis, his family goes through an even bigger change than Gregor. In this novel Kafka directly reflectsRead MoreThe First Novel Nausea By Jean Paul Sartre1939 Words   |  8 Pag esMetamorphosis In the year 1938, a French philosopher and writer, Jean Paul-Sartre, published his first novel Nausea. The main protagonist, Antoine Roquentin lives a lonely life of a classic ‘superfluous man’, term used in many Russian novels, and starts to write a diary to help him understand his sudden attacks of nausea. In the novel Nausea, Roquentin questions himself: â€Å"What if something were to happen? What if something suddenly started throbbing? Then they would notice it was there and theyRead MoreThe Dehumanizing Effect of Alienation and the Restoration of Self Identity in Franz Kafka’s The Metamorphosis788 Words   |  3 PagesIn the novella â€Å"The Metamorphosis†, Franz Kafka focuses on the topic of alienation and considers its underlying effect on self identity. The alienation Kafka promotes is propagated towards the main character Gregor Samsa, who inevitably transforms into a giant cockroach. The alienation by family relations affects him to the exte nt that he prioritizes his extensive need to be the family’s provider before his own well-being. This overwhelming need to provide inevitably diminishes Gregor’s ability toRead More Franz Kafkas Life Reflected in his Work, The Metamorphosis Essay2398 Words   |  10 PagesFranz Kafkas Life Reflected in his Work, The Metamorphosis The Metamorphosis written by Franz Kafka is considered one of the few great, poetic works of the twentieth century. Addressing The Metamorphosis, Elias Canetti, a Nobel Prize-winning author, has commented, In The Metamorphosis Kafka has reached the height of his mastery: he has written something which he could never surpass, because there is nothing which The Metamorphosis could be surpassed by - one of the few great, perfect poeticRead MoreThe Existentialist Philosophy Of Kafka s The Metamorphosis1364 Words   |  6 Pagesexistentialist philosophy of Kafka is presented in the metamorphosis is a picture of isolation and despair, something which prevailed in Kafka’s life. The diary of Kafka which was later found also showed Kafka’s intense imagination about his existence and extinction. It became apparent that at the heart of metamorphosis lies deep rooted feelings of Kafka himself. (Kafka.org ). The Metamorphosis a novel written by Franz Kafka is about a man, Gregor Samsa, who wakes up to find himself turned into a giantRead MoreAnalysis Of Franz Kafka s The Metamorphosis 3979 Words   |  16 PagesAustin Day Professor Imali Abala English 357 18 February 2015 The Theme of Alienation in Franz Kafka’s The Metamorphosis The Metamorphosis written by Franz Kafka in 1915 is said to be one of the greatest literary works of all time and is seen as one of Kafka’s best and most popular works of literature. A relatively short novel; the story explains how the protagonist, Gregor Samsa wakes up one morning to find himself transformed into a vermin which completely estranges him from the world even moreRead MoreThe Ideologies Of His Works Essay1551 Words   |  7 Pagesfamily. The main character, Gregor, suffers from his family’s oppression and refuses to address his father s aggression. Kafka connects his responses towards his father through the killing of Gregor. Kafka never had the confidence and bravery to stand up to his father, and ultimately led Kafka to not think for himself and become internally dead. Gregor continues to become passive and weak as the father continued to rule his existence and decisions. The Metamorphosis depicts Kafka’s response on page

Case Study Separation Anxiety Disorder - 3579 Words

Diagnosis and Treatment of Separation Anxiety Disorder CASE STUDY 6 CLIENT DETAILS Diagnosis: Separation Anxiety Disorder. Age: 6 years. Client Gender: Male. Initial Consultation: 20th May 2011. Number of Sessions: 12 sessions. Place of Treatment: The agency. Treatment Approach: Cognitive Behavioural Therapy. Treatment Mode: Weekly one hour sessions. Referral Information The client’s mother referred her son to the agency because he was suffering from anxiety. He was resisting going to go to school and becoming distressed when his parents tried to leave him at home. Presenting Problem The client attended his first assessment session with his mother. He was of average size and weight for his age and was†¦show more content†¦The parents reported that their child’s pre and post natal development was normal without illness or injury. However, as an infant/toddler, he had been difficult to soothe when upset and demanded constant attention which his parents found difficult to manage. Twelve months before attending the agency the client began to demonstrate increasing levels of anxiety. This anxiety commenced with significant difficulties being separated from his mother or father at home, to go to school, stay with family and play with friends. The parents said the client’s behaviours included clinging on to them and chasing after them as they were leaving the house or school. He would also check their location in the house to confirm that they were still there. On occasion his behaviour deteriorated into tantrums, although this only happened at home. The parents also expressed concern that the boy’s teacher noticed he was refusing to eat at school. The parents also reported their child was unable to get to sleep without their presence. He would awaken with nightmares at least three times a week saying he was frightened something bad was happening to them. The parents stated that it was becoming increasingly difficult for them to manage thei r son’s behaviour. The client’s parents reported that there was no known family history of anxiety and depression on either side of their family.Show MoreRelatedChildhood Separation Anxiety Disorder Among Adults With Adult Anxiety Disorders1121 Words   |  5 Pagesâ€Å"Childhood Separation Anxiety Disorder in Patients With Adult Anxiety Disorders† focuses on the prevalence of childhood separation anxiety disorder (CSA) in adults with one or more anxiety disorder, and whether or not there is a correlation between them. The authors clearly included their hypothesis, which states they presume there to be higher rates of childhood separation anxiety disorder among patients with various adult anxiety disorders than in adults with only one adult anxiety disorder. In additionRead MoreLong Term Effects of Childhood Separation Anxiety1230 Words   |  5 PagesChildhood Separation Anxiety Abstract This report delves into the connection between childhood separation anxiety disorder and the long-term implications that it may have. To understand the connections I preformed secondary research through â€Å"Academic Search Complete†. I found that childhood separation anxiety disorder is connected with serious mental disorders, such as anorexia, bulimia, social phobias, depression, and behavior disorders. Many studies have shown that childhood separation anxietyRead MoreSeparation Anxiety Disorders And Children Essay1576 Words   |  7 Pages Separation Anxiety Disorders in Parents and Children Christa Conrad Antelope Valley College Introduction to Psychology - PSY101 Professor Laurel Johnson Monday, November 14, 2016 Abstract The differences between Separation Anxiety Disorder (SAD) and the similar disorder, Attachment Anxiety Disorder, were examined to show that the disorders are alike. The causes of Separation Anxiety Disorder and the symptoms in which a child could be diagnosed were discussed. Following that, theRead MoreAdult Separation Anxiety : A Psychological Condition1513 Words   |  7 Pages Adult Separation Anxiety: A Possible Link to a Missed Step in Development DeAndre Bright Evan Smith-Finney Amber Depew Brandon Eastwood CCBC Catonsville Psychology 103 April 3, 2015 Adult Separation Anxiety Disorder Separation anxiety disorder is â€Å"a psychological condition in which an individual has excessive anxiety regarding separation from places or people to whom the individual has a strong emotional attachment† (anxietypanichealth.com 2008). Individuals with this disorder typicallyRead MoreSeparation Anxiety And Its Effects On Children1560 Words   |  7 Pagesexample of separation anxiety, a developmental phase that most children go through during their early years. Separation anxiety is most likely to occur in child with a family history of anxiety/depression, child who are shy, children who have a lack of appropriate parental interaction, and overprotective parents. Separation anxiety is one of the most common anxiety disorders in children affecting one out of twenty. It is a developmental stage during which the child experiences anxiety when separatedRead MoreFactors Affecting The Development Of Anxiety Disorders1597 Words   |  7 Pagesdo familial factors contribute to the development of anxiety disorders?’ 1.0 Introduction Anxiety disorders are forms of psychiatric illnesses that result from consistent and excessive anxiety, marked by an individual’s emotional and/or physical anguish. Familial factors can heavily contribute to the development of an individual’s anxiety disorder/s, when their genealogy possess a history of traumatic experiences such as childhood abuse. Studies of behavioural epigenetics have shown that when ancestorsRead MoreMovie Review : What About Bob 1504 Words   |  7 PagesNick Freeman PSYC 281 Writing Assignment: Film Review What About Bob? â€Å"What About Bob?† focuses on Bob Wiley, a severely distressed man with a number of easily identifiable symptoms. Wiley’s primary issues are related to anxiety; he has a number of phobias, including agoraphobia and a strong fear of disease and germs. His fear of germs and disease is so strong that he has difficulty touching things; he often uses a cloth to touch objects to avoid skin-to-object contact. Wiley is generally waryRead MoreWhere Does Bad Behavior Do Children Come From?1515 Words   |  7 PagesIn most cases this is true, but sometimes there is an underlying root to this behavior. In order to handle an outraged child, one must consider why he/she is like this. Three of the reasons why a child could be acting out are separation anxiety, the size of the child’s family and birth order, and disorders. Separation anxiety is defined as the troubled reaction of a child when the parent is absent. This anxiety materializes during the second half year in infants. Separation anxiety usually becomesRead MoreAdolescents And Adolescent Multiethnic Populations : Challenges And Opportunities For Enhancing Knowledge And Practice1148 Words   |  5 PagesAnxiety in Children Cooley, M. R., Boyce, C. A. (2004). An introduction to assessing anxiety in child and adolescent multiethnic populations: Challenges and opportunities for enhancing knowledge and practice. Journal of Clinical Child Adolescent Psychology, 33(2), 210-215. doi:10.1207/s15374424jccp3302_1 This article is an introduction to the larger project titled â€Å"Assessing Anxiety in Child and Adolescent Multiethnic Populations†. Cooley and Boyce (2004) present an overview of anxiety symptomsRead MoreThe Case Study of Amanda Anderson Essays2061 Words   |  9 Pagesprimary diagnosis for Amanda Anderson is separation anxiety disorder (SAD) with a co-morbidity of school phobia. Separation anxiety disorder is commonly the precursor to school phobia, which is â€Å"one of the two most common anxiety disorders to occur during childhood, and is found in about 4% to 10% of all children† (Mash Wolfe, 2010, p. 198). Amanda is a seven-year-old girl and her anxiety significantly affects her social life. Based on the case study, Amanda’s father informs the therapist that

Duport Analysis the Number Game Free Essays

DuPont Analysis: Playing The Numbers Game! The summary of this case is that a newly joined CFO of a company, Plastichem Inc. , was able to turn the company’s unfortunate situation around when he first arrived. Yet, five years later, Plastichem has gone through some difficult times including their stock price/ratings severely dropping with no understanding as to why. We will write a custom essay sample on Duport Analysis: the Number Game or any similar topic only for you Order Now The case ends with the CFO attempting to figure out what went wrong with the numbers he was given. To determine the liquidity, we used the quick ratio, current ratio, and interest coverage ratio. From these equations, the higher the ratios meant the better of the company’s financial condition, or more liquidity. The acceptable ratios vary from different industries. In general, company’s quick ratio should be 1 or higher, and its current ratio should be above 1. 5 to be considered liquid. In the comparison between two companies’ ratios, DCM Molding has shown a better financial condition on average in the past four years, and Plastichem has barely met the acceptable average or is below the average in the past four years. Quick Ratio = (Cash and marketable securities + A/R + Other Current Asset)/ Current Liabilities | Year| 2004| 2003| 2002| 2001| Plastichem| 0. 86| 1. 141| 1. 039| 0. 826| DCM Molding| 0. 99| 0. 93| 1. 114| 1. 568| | Year| | 2004| 2003| 2002| 2001| Plastichem| 1. 301| 1. 523| 1. 462| 1. 309| DCM Molding| 1. 632| 1. 518| 1. 826| 2. 095| | Year| | 2004| 2003| 2002| 2001| Plastichem| 0. 763| 1. 9113| 1. 962| 2. 442| DCM Molding| 4. 667| 1. 217| 4. 217| 8. 6| To measure the leverage, we calculated the debt-equity ratio. Plastichem had a relatively high Debt-Equity Ratio, which indicated that Plastichem was using many debts to finance its growth. High Debt-Equity Ratio also indicated that Plastichem bore more risk because the cost of debt (interest). The company would make more profit if the incremental profit exceeds the incremental cost of debt; however, the company may lose more money/ make less money if the incremental profit is less than the incremental cost of debt. | Year| | 2004| 2003| 2002| 2001| Plastichem| -19. 331| 5. 076| 4. 862| 1. 355| DCM Molding| 1. 192| 1. 477| 1. 274| 0. 714| To determine the profitability, we calculate the Profit Margin, ROE, and ROA. By looking at the ratios, Plastichem’s profit has dropped in the past four years. The high leverage may have enlarged the loss of the company. On the other hand, DCM Molding has shown a steady income/profit over the years. | Year| | 2004| 2003| 2002| 2001| Plastichem| -24. 14%| 0. 68%| 3. 45%| 5. 65%| DCM Molding| 5. 91%| 6. 19%| 5. 37%| 5. 09%| | Year| | 2004| 2003| 2002| 2001| Plastichem| ? | 3. 53%| 6. 38%| 17. 30%| DCM Molding| 17. 76%| 18. 64%| 17. 44%| 10. 95%| | Year| | 2004| 2003| 2002| 2001| Plastichem| -26. 90%| 0. 58%| 1. 09%| 7. 34%| DCM Molding| 8. 10%| 7. 53%| 7. 66%| 6. 39%| A common size balance sheet is a different type of balance sheet that hows each dollar amount in a form of percentage of a common number from the actual balance sheet. Common size balance sheet is useful in comparing companies that have a different scale of operations. This type of balance sheet helps in observing at the firms as a common sized and it also helps in comparing the changes in various segments over a period of time. PLASTICHEM INCORPORATED| | | | | Annual Income Sta tements (Value in Millions)| | | | | 2004| 2003| 2002| 2001| Sales| 100. 00%| 100. 00%| 100. 00%| 100. 00%| Cost of Sales| 74. 81%| 62. 76%| 63. 39%| 65. 04%| Gross Operating profit| 25. 19%| 37. 24%| 36. 61%| 34. 6%| Selling, General Admin. Expenses| 13. 27%| 18. 54%| 18. 66%| 20. 73%| EBITDA| 11. 92%| 18. 71%| 17. 95%| 14. 23%| Depreciation Amortization| 6. 16%| 5. 51%| 5. 82%| 4. 41%| EBIT| 5. 76%| 13. 20%| 12. 12%| 9. 82%| Other Income, Net| -0. 17%| 0. 20%| 0. 12%| 0. 08%| Total Income Avail for Interest Exp. | 5. 59%| 13. 40%| 12. 24%| 9. 90%| Interest Expense| 7. 54%| 6. 90%| 6. 18%| 4. 02%| Minority Interest| 0. 00%| 0. 00%| 0. 00%| 0. 00%| Pre-Tax Income| -1. 95%| 6. 50%| 6. 06%| 5. 88%| Income Taxes| 0. 03%| 0. 71%| 2. 61%| 0. 23%| Special Income/Charges| -22. 15%| -5. 10%| 0. 00%| 0. 00%| Net Income from Cont. Operations| -24. 14%| 0. 68%| 3. 45%| 5. 65%| Net Income from Discont. Opers. | 0. 00%| 0. 00%| 0. 00%| 0. 00%| Net Income from Total Operations| -24. 14%| 0. 68%| 3. 45%| 5. 65%| Normalized Income| -1. 99%| 5. 78%| 3. 49%| 5. 65%| Extraordinary Income| 0. 00%| 0. 00%| 0. 00%| 0. 00%| Income from Cum. Eff. of Acct. Chg. | 0. 00%| 0. 00%| 0. 00%| 0. 00%| Income from Tax Loss Carryforward| 0. 00%| 0. 00%| 0. 00%| 0. 00%| Other Gains| 0. 00%| 0. 00%| -2. 02%| 0. 00%| Total Net Income| -24. 14%| 0. 68%| 1. 43%| 5. 65%| PLASTICHEM INCORPORATED| | | | | Annual Balance Sheets (Values in millions)| | | | | | 2004| 2003| 2002| 2001| ASSETS | | | | | Current Assets| | | | | Cash and marketable securities| 1. 20%| 1. 40%| 1. 47%| 0. 60%| Accounts receivable| 17. 34%| 17. 33%| 14. 74%| 21. 03%| Inventory| 10. 31%| 7. 01%| 7. 44%| 12. 88%| Other Current assets| 1. 54%| 2. 21%| 2. 03%| 0. 40%| Total Current Assets| 30. 40%| 27. 94%| 25. 68%| 34. 91%| | | | | | Non-Current Assets| | | | | Property, Plant Equipment, Gross| 35. 44%| 28. 70%| 25. 85%| 47. 99%| Accumulated depreciation Depletion| 14. 41%| 9. 13%| 8. 15%| 19. 42%| Property, Plant Equipment, Net| 21. 03%| 19. 57%| 17. 71%| 28. 57%| Intangibles| 45. 67%| 50. 07%| 53. 53%| 33. 0%| Other Non-Current Assets| 2. 90%| 2. 41%| 3. 09%| 3. 52%| Total Non-Current Assets| 69. 60%| 72. 06%| 74. 32%| 65. 09%| Total Assets| 100. 00%| 100. 00%| 100. 00%| 100. 00%| | | | | | LIABILITIES AND EQUITIES| | | | | Current Liabilities| | | | | Accounts payable| 7. 71%| 6. 92%| 6. 03%| 9. 76%| Short Term Debt| 2. 48%| 1. 63%| 1. 03%| 3. 92%| Other current Liabilities| 13. 17%| 9. 80%| 10. 50%| 12. 98%| Total Current liabilities| 23. 36%| 18. 35%| 17. 56%| 26. 66%| | | | | | Non-Current liabilities| | | | | Long-term debt| 80. 96%| 64. 35%| 65. 38%| 30. 89%| Deferred Income Taxes| 0. 00%| 0. 00%| 0. 00%| 0. 0%| Other Non-Current Liabilities| 1. 13%| 0. 84%| 0. 00%| 0. 00%| Minority Interest| 0. 00%| 0. 00%| 0. 00%| 0. 00%| Total Non-Current Liabilities| 82. 09%| 65. 19%| 65. 38%| 30. 89%| Total Liabilities| 105. 46%| 83. 54%| 82. 94%| 57. 55%| | | | | | Shareholder’s Equity| 0. 00%| 0. 00%| 0. 00%| 0. 00%| Preferred Stock Equity| 0. 00%| 0. 00%| 0. 00%| 0. 00%| Common Stock Equity| -5. 46%| 16. 46%| 17. 06%| 42. 45%| Total equity| -5. 46%| 16. 46%| 17. 06%| 42. 45%| | | | | | Total liabilities and Stock Equity| 100. 00%| 100. 00%| 340| 100. 00%| DCM MOLDING| | | | | Annual Balance Sheets (Values in millions)| | | | | 2004| 2003| 2002| 2001| ASSETS | | | | | Current Assets| | | | | Cash and marketable securities| 0. 33%| 1. 25%| 0. 47%| 8. 06%| Accou nts receivable| 19. 87%| 18. 36%| 20. 31%| 19. 44%| Inventory| 14. 32%| 13. 34%| 14. 69%| 10. 83%| Other Current assets| 1. 89%| 1. 48%| 2. 19%| 4. 72%| Total Current Assets| 36. 40%| 34. 44%| 37. 66%| 43. 06%| | | | | | Non-Current Assets| | | | | Property, Plant ; Equipment, Gross| 47. 28%| 42. 08%| 43. 44%| 56. 39%| Accumulated depreciation ; Depletion| 17. 20%| 12. 66%| 11. 09%| 10. 83%| Property, Plant ; Equipment, Net| 30. 08%| 29. 42%| 32. 34%| 45. 56%| Intangibles| 33. 0%| 35. 46%| 28. 44%| 5. 28%| Other Non-Current Assets| 0. 22%| 0. 68%| 1. 56%| 6. 11%| Total Non-Current Assets| 63. 60%| 65. 56%| 62. 34%| 56. 94%| Total Assets| 100. 00%| 100. 00%| 100. 00%| 100. 00%| | | | | | LIABILITIES AND EQUITIES| | | | | Current Liabilities| | | | | Accounts payable| 7. 66%| 8. 10%| 8. 28%| 5. 56%| Short Term Debt| 7. 44%| 6. 61%| 4. 22%| 7. 50%| Other current Liabilities| 7. 21%| 8. 10%| 8. 28%| 7. 50%| Total Current liabilities| 22. 31%| 22. 69%| 20. 63%| 20. 56%| | | | | | Non-Cur rent liabilities| 0. 00%| 0. 00%| 0. 00%| 0. 00%| Long-term debt| 28. 63%| 31. 93%| 29. 22%| 15. 00%| Deffered Income Taxes| 0. 11%| 0. 57%| 0. 00%| 3. 89%| Other Non-Current Liabilities| 3. 33%| 4. 45%| 6. 09%| 2. 22%| Minority Interest| 0. 00%| 0. 00%| 0. 00%| 0. 00%| Total Non-Current Liabilities| 32. 08%| 36. 94%| 35. 31%| 21. 11%| Total Liabilities| 54. 38%| 59. 64%| 55. 94%| 41. 67%| | | | | | Shareholder’s Equity| 0. 00%| 0. 00%| 0. 00%| 0. 00%| Preferred Stock Equity| 0. 00%| 0. 00%| 0. 00%| 0. 00%| Common Stock Equity| 45. 62%| 40. 36%| 43. 91%| 58. 33%| Total equity| 45. 62%| 40. 36%| 43. 91%| 58. 33%| | | | | | Total liabilities and Stock Equity| 100. 00%| 100. 00%| 100. 00%| 100. 00%| DCM MOLDING| | | | | Annual Income Statements (Value in Millions)| | | | | 2004| 2003| 2002| 2001| Sales| 100. 00%| 100. 00%| 100. 00%| 100. 00%| Cost of Sales| 66. 83%| 64. 85%| 64. 76%| 62. 96%| Gross Operating profit| 33. 17%| 35. 15%| 35. 24%| 37. 04%| Selling, General Admin. Expenses| 17. 23%| 18. 65%| 19. 60%| 22. 22%| EBITDA| 15. 94%| 16. 49%| 15. 64%| 14. 81%| Depreciation Amortization| 4. 61%| 4. 40%| 4. 32%| 4. 86%| EBIT| 11. 33%| 12. 09%| 11. 32%| 9. 95%| Other Income, Net| 0. 00%| 0. 00%| -0. 12%| -0. 23%| Total Income Avail for Interest Exp. | 11. 33%| 12. 09%| 11. 20%| 9. 72%| Interest Expense| 2. 43%| 2. 16%| 2. 0%| 1. 16%| Minority Interest| 0. 00%| 0. 00%| 0. 00%| 0. 00%| Pre-Tax Income| 8. 90%| 9. 93%| 9. 10%| 8. 56%| Income Taxes| 2. 99%| 3. 75%| 3. 73%| 3. 47%| Special Income/Charges| 0. 00%| 0. 00%| 0. 00%| 0. 00%| Net Income from Cont. Operations| 5. 91%| 6. 19%| 5. 37%| 5. 09%| Net Income from Discont. Opers. | 0. 00%| 0. 00%| 0. 35%| 0. 00%| Net Income from Total Operations| 5. 91%| 6. 19%| 5. 72%| 5. 09%| Normalized Income| 5. 91%| 6. 19%| 5. 37%| 5. 09%| Extraordinary Income| 0. 00%| 0. 00%| 0. 00%| 0. 00%| Income from Cum. Eff of Acct. Chg. | 0. 00%| 0. 00%| 0. 00%| 0. 00%| Income from Tax Loss Carryforward| 0. 0%| 0. 00%| 0. 00%| 0. 00%| Other Gains| 0. 00%| 0. 00%| 0. 00%| 0. 00%| Total Net Income| 5. 91%| 6. 19%| 5. 72%| 5. 09%| We can see that the cost of the sales has been increasing for both the companies. But, the cost of goods sold for DCM is less that than of Plastichem. This indicates that DCM has been better at controlling their cost so they have a higher gross margin as compare to Plastichem. This reduction in the gross profit has lead to the reduction on the expenses occur due to selling the goods, but since DCM has a higher gross profit than Plastichem, they can also spend more in selling their goods. Plastichem also has more debt compare to DCM, due to which they have a higher interest expenses compare to DCM. A DuPont analysis helps us better understand the changes in return on equity (ROE). DuPont analysis tells us that three things affect ROE: operating efficiency, asset use efficiency, and financial leverage. Therefore we break up ROE into its components: ROE = Profit Margin (PM) * Total Asset Turnover (TAT) * Equity Multiplier (EM) | 2004| Return on Equity| Net Profit Margin| Total Asset Turnover| Equity Multiplier| | | | | | | Plastichem| 0. 00%| -24. 07%| 1. 12| 0. 00| DCM| | 17. 76%| 5. 91%| 1. 37| 2. 19| | 2003| | | | | | | | | | | Plastichem| 3. 53%| 0. 68%| 0. 85| 6. 08| DCM| | 18. 64%| 6. 19%| 1. 22| 2. 48| | 2002| | | | | | | | | | | Plastichem| 6. 38%| 1. 47%| 0. 74| 5. 86| DCM| | 17. 44%| 5. 72%| 1. 34| 2. 28| | 2001| | | | | | | | | | | Plastichem| 17. 30%| 5. 65%| 1. 30| 2. 36| DCM| | 10. 95%| 5. 32%| 1. 20| 1. 71| If we look at the figures we find that the reduction in ROE for Plastichem is mainly due to the drop in net profit margin. Plastichem increased their use of debt, which resulted in a higher EM, but poor PM ensured the fall of ROE. For DCM, on the other hand, we see that it has been fairly constant as well as ROE components. Some of the limitations regarding the various financial analyses above are: Many companies near the year or quarter end improve the appearance of their figures presenting them in the most attractive way possible. The miss misrepresentation of numbers makes the analysis more difficult. The analysis may also be unclear by inflation as general price levels for goods and services go up and subsequently purchasing power goes down, which makes comparison difficult over time. Many firms also use different accounting methods which make comparing of different companies difficult for instance there are two primary accounting methods used in USA, cash and accrual accounting. Cash accounting reports income and expenses are reported in the year they are received and paid; accrual accounting reports income and expenses in the year they are earned and incurred. Again making it very difficult to analyze different companies. Some additional data Jay and Jack need in order to improve their finding would be to look into the companies accounting practices and see if any off balance sheet items are present. From there they need to make sure the off balance sheet items are converted to in the balance sheet items to have an appropriate comparison. A statement of cash flows would also useful in analysis, as it would allow in determining the short-term viability of a company, particularly its ability to pay bills. A statement of cash of cash flows also allows us to view cash and cash equivalents coming in and out of company, giving better understanding as to where money is going and coming from. Also although looking at numbers may allow analysis to quickly spot differences in financials, I believe you must research companies in how they are run and if they are consistently making good business decisions. After collecting, compiling, and analyzing data we have come to conclusion that DCM Molding has shown a better financial condition on average in the past four years, and Plastichem has barely met the acceptable average or is below the average in the past four years. The Plastichem had a relatively high Debt-Equity Ratio, which indicated that was using many debts to finance its growth. The high Debt-Equity Ratio also indicated that Plastichem bore more risk because the cost of debt (interest) making things difficult. The cost of the sales for both the companies have increased. But, the cost of goods sold for DCM is less that than Plastichem. This indicates that DCM has been better at controlling their cost so they have a higher gross margin as compare to Plastichem. This reduction in the gross profit has lead to the reduction on the expenses occur due to selling the goods, but since DCM has a higher gross profit than Plastichem they can also spend more in selling their goods. So in comparison we see that DCM Molding is doing far better with its figures showing much better results than Plastichem. Recommendation that Jack would be justified in making in his report to Andrew would be Plastichem needs to increase profit margin after looking at the figures we find that the decrease in return on equity for Plastichem is mostly due to the drop in net profit margin. Plastichem increased their use of debt that resulted in a higher equity multiplier, but poor profit margin ensured the fall of return on equity. Plastichem had a relatively high Debt-Equity Ratio, which indicated that Plastichem was using many debts to finance its growth. It should be treated as a serious problem being that Plastichem’s main rival is rated as a strong buy while their stock is rated as a hold. The strong drop in price will create fear for potential and current shareholders. If that fear continues, Plastichem’s shareholders might sell their stock at a decreasing rate, causing more issues for the company. The CFO should do a comparison between Plastichem and DCM’s numbers, and find the strengths and weaknesses amongst his company, in particular within its management teams. He should also begin finding ways to pay off Plastichem’s debt as well as not accumulating anymore, being that Plastichem is already seen as risky. The CFO should also find a tighter way to control the company’s costs. The analysts are very accurate in their recommendations to the two firms. DCM Molding figures showed far better results and stock should rise; While Plastichem might consider selling stocks, if financial performance continues to worsen. How to cite Duport Analysis: the Number Game, Essay examples