The Nike Inc. Company - 945 Words

Introduction The Nike Inc. company â€Å"Just Do It† logo encourages many to be motivated to push themselves to work hard and to feel good about themselves. The Nike Inc. shoe industry has marketed their sneakers through popular icons such as sport players. However, the same should be encouraged in employees who manufacture these products overseas in China, Indonesia and Korea. Nike has a responsibility to ensure that Management in the manufacturing company are held to a higher practice to avoid unsafe working conditions, unfair pay and child labor. Unsafe Working Conditions Marketing agency know that the way to encourage buying it to present a need or want based on popularity. Therefore, it is unbelievable that those super stars that many have come to ideal would support a company brand that is accused of poor working conditions, where employees were reported to have respiratory problems. It is no doubt that long hours, inadequate equipment and training, etc. would cause work related injuries. In addition to working long hours, employees were reported to receive little to no pay. Equal Pay for Equal Work Upon being hired, many Americans are provided with a schedule and a salary or an hourly rate of pay. The rising cost of supplies and companies having limited resources in the United States, it would seem logical that companies venture out and look for cost effective material and labor. However, Nike is also reported to have no knowledge of working conditions becauseShow MoreRelatedHistory Of Nike Inc. Company854 Words   |  4 PagesHistory Nike Inc. was founded by track athlete Phil Knight and his coach Bill Bowerman in January 1964. The company use to be called Blue Ribbon Sports. In 1971 they changed the name to Nike after their partnership with a Japanese company ended. Now Nike Inc. controls more than half of athletic shoe market in the United States. In addition, they sell their products in more than 180 countries around the world. Nike stays organized by using three separate teams that work with suppliers. Their mainRead MoreCompany Overview: Nike, INC1106 Words   |  4 PagesNike, Inc. is the world’s leading designer, marketer and distributor of athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. NIKE, Inc. sells, distributes and licenses its products in approximately 200 countries around the world. NIKE focuses its products in seven key categories: Running, Basketball, Soccer, Men’s Training, Women’s Training, NIKE Sportswear and Action sports. NIKE sells products through its NIKE Brand and Affiliate Brands (ConverseRead MoreNike Inc. : A Sports Gear Company1884 Words   |  8 PagesNike Inc. is a sports gear company based out of Unites states of America. The company deals with development and sales of athletic sport equipments and recreational products. Nike sponsor various athletes and teams by providing their products to promot e. The brand is endorsed by various famous players such as Carl Lewis, basketball player Michael Jordan, Jackie Joyner-Kersee and Sebastian Coe. Nike products cover running, basketball, football, cricket, tennis and golf under Nike and Jordan brandRead MoreNike Inc. : The World s Leading Athletic Footwear, Apparel And Equipment Company894 Words   |  4 Pages Nike Inc. is the world’s leading athletic footwear, apparel and equipment company. Nike’s mission statement, â€Å"bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete† (Nike, 2016). Nike’s mission statement relates to every human on this earth regardless of size or shape. The two goals of Nike Inc. are to serve and inspire the athlete and to reach a large audience (Nike CR Report, 2014). Nike has done an incredible job meeting these two goals becauseRead MoreNike s Code Of Conduct934 Words   |  4 PagesIn addition, Nike, Inc.’s Code of Conduct also states that its subcontractors must provide â€Å"a safe, hygienic and healthy workplace setting and [take the] necessary steps to prevent accidents and [injuries] [†¦]† (Nike, Inc.,†Code of Conduct†). In 2013, following another company’s factory catching fire in Bangladesh, killing 112 people in the process, two of Nike’s vice-presidents flew to Bangladesh to assess the situation in their own factories (Banjo). Seeing as their buildings were not safe, theRead MoreWhy Investing Of Nike Stocks Essay1697 Words   |  7 Pages Why Invest In Nike Stocks? Stephen Lane Embry-Riddle Aeronautical University Why invest in Nike stocks? Over the last 10 years’ gym memberships within the United States have increased from 41.3 million to 54.1 million. The biggest trend over the last few years is becoming fit, more and more each day people are finding ways to live fit and healthier lifestyles. From eating the right nutritional foods, working out and people just wanting to follow the latest and greatest trendsRead MoreNike, Mission, Vision, Values, Principles Essay704 Words   |  3 PagesRunning head: NIKE, Inc. Mission, Vision, Principles 1 NIKE, Inc. Mission, Vision, Principles Ameirah Aldahmani MSM631 – Strategic Management and Financial Reports Analysis Regis University Saturday, September 04, 2010 Abstract This paper is a qualitative and quantitative analysis of NIKE, Inc., done as six separate sections. The six sections of the project are external environment analysis, S.W.O.T analysis, executive interview, strategic and tactical plans and controls, structure,Read MoreNike Case Study1542 Words   |  7 Pagesthe stocks of Nike for the fund that she manages. †¢ Ford should base her decision on data on the company which were disclosed in the 2001 fiscal reports. While Nike management addressed several issues that are causing the decrease in market sales and prices of stocks, management presented its plans to improve and perform better. †¢ Third party sources also gave their opinions on whether the stock was a sound investment. WACC CALCULATION: Cost of Capital Calculations: Nike Inc Cohen calculatedRead MoreNike, Inc. Case Analysis844 Words   |  4 PagesNIKE, Inc., is a company that was founded in by William Jay Bowerman and Philip H. Knight in 1964, and was originally called Blue Ribbon Sports, Inc. It’s name was changed to Nike, Inc. in 1971. It’s base of operation is located in Beaverton, Oregon. NIKE, Inc., is the world’s leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities worldwide. Entirely owned Nike subsidiaries include ConverseRead More Nike1698 Words   |  7 Pages SHORT CASE SUMMARY Nike, Inc. (503-671-6453, www.nike.com) is the worlds #1 athletic shoe and apparel seller. Nike currently employs 20,700 employees, with total sales of $8.78 billion. Nike and the athletic shoe industry have evolved into one of the most competitive market in recent years. But, analysts believe that athletic shoe sales will slow down over t he next few years. The slowdown will come with the change in consumer trends. For instance, the younger market is beginning to buy more casual

islam in the united states Essay - 3208 Words

The biased and discrimination in United States have always been done with the minority. Muslims have always been a minority in this country throughout time. They have faced discrimination in society and especially from the government and media. I believe that people running this country are Anti Islamic due to there view on things. Also this is a Zionist country, which is another reason that makes the media discriminate against the Muslim’s, due to the conflict with Palestine and other Muslim countries. The media has always portrayed Islam in a negative way. The reason the media is biased when it comes to Islam because they hate the Islamic structure and the beliefs. The majority of media conglomerate ownership is of people who†¦show more content†¦By preserving the sanctity of the family, the Islamic system provides a strong foundation for a high standard of morality, and values that support the society from friction and subversion. Islam organizes the interaction of men and women in public and private life, establishes a dress code for both, encourages marriage at an early age and impose severe punishments for adultery, fornication and homosexuality. (2) Furthermore, the social system stresses the importance of parent-child relation and regulates custody and monetary responsibility. It addresses the responsibility towards grand parents, uncles, aunts and cousins from both sides of the family. Islam stresses very strongly neighbors affairs and encourages providing for the needy. The Western culture view women as a sex objects used for the temptation and pleasure or to sell products. The Capitalistic machine forced women to abandon their families to make ends meet. Islam considers the woman a human being whose primary mission is to be a mother, an honorable goal; therefore, she is to be protected and honored. To achieve the social goal, many rules and regulations exist in the Islamic legal code. The Islamic life style normally prevents unnecessary mixture men and women that preserve the integrityShow MoreRelatedIslam And The United States Essay2287 Words   |  10 Pagesfirst known Muslims in the United States, was a slave from Morocc o, named Estevanico, who was shipwrecked with Spanish Explorers near the where the city Galveston, Texas is. After that there weren’t many Muslims coming into the United States until the twentieth century. This is shown by the evidence that one of the first mosques was built in North Dakota in 1929, and while the mosque was demolished a Muslim cemetery still stands near the spot of that mosque. Islam started in the 7th centuryRead MoreUnited States Aggression Against Islam1344 Words   |  6 PagesUnited States aggression against Islam: As noted above, the main goal of al Qaeda propaganda is to convince the Muslim world (ummah) that the West is waging a war on (or conducting a â€Å"crusade† against) Islam. All of the detainees at Guantanamo are Muslim, many were jailed without any involvement with al Qaeda, the Taliban, or militant behavior at all, (Fox News) and some abused. (Center for Constitutional Rights) These facts, manipulated correctly and placed into a certain context, could be usedRead MoreIslam s Impact On The United States1297 Words   |  6 PagesWithin the past twelve years, Islam has grown to be the second largest religion practiced around the world. Growing up, there weren’t many Muslim people that practiced Islam as there are now. Ten years ago, I would only see about one or two Muslims as I walked down the street, but now I see many more. In Philadelphia, there are more than 200,000 people who are Muslim, and 85% of those people are African-American. In this city when people see Af rican-American Muslims who are garbed up they don’t discriminateRead More Massive Anti-Islam Sentiment in the United States Essay3208 Words   |  13 PagesIslam is a monotheistic religion, centered around the teachings of the Qu’ran and serving Allah (meaning God in Arabic). However, this Abrahamic religion has been harshly discriminated against in the United States for years. Most prominently throughout the last twelve years, post September 11th, 2001. Unfortunately, issues such as socialization through the media, power distribution, religious ignorance, stereotyping and visible differences have contributed to the ill attitudes towards Muslims. Read MoreThe Millennial Generation Must End Islam Phobia1259 Words   |  6 PagesConstitution states, â€Å"Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, an d to petition the government for a redress of grievances† (US Cons. amend. I. Print). This right has been taken away from Muslims, Millennials need to work together to reach solidarity for the Muslim community. The Millennial Generation must end Islam phobia in theRead MoreThe Autobiography of Malcolm X Essay1301 Words   |  6 Pageschange despite the situation. His struggle for equality for the black nation landed him in prison. While in prison, Malcolm was able to study, and earned a college degree. However, most importantly while in prison, Malcolm X was introduced to the Islam faith by one of the prisoners. He received teachings from the Muslim faith, which made him realize that, his people were being oppressed and abused by the whites. While out of prison, he went to visit honorable Elijah Muhammad and later on went aroundRead MoreThe Islamic Faith : Born On The Arabian Peninsula1377 Words   |  6 Pages(Al-Qazwini, 2010). There is no Islamic state, Muslims are sprea d throughout the world. This can be problematic because there is no official place for Muslims to go. There are more than fifty-seven Muslim states around the world (Al-Qazwini, 2010). Islam is the third most common religion in the United States, following Christianity and Judaism (Al-Qazwini, 2010). The majority of American Muslims are immigrants, most immigrants arrived after the United States enacted the 1965 Immigration and NationalitiesRead MoreRhetorical Analysis Of Donald Trump s Speech1187 Words   |  5 Pageshistory against the United States from entering the country from areas that are high until the government creates a solution to help stop Islamic terrorism inside U.S borders. He discusses many recent terrorist attacks like the Orlando Pulse gay nightclub shooting, the San Bernardino attack and even the Paris theater attack in November, 2015. He believes that all these attacks are from terrorist of Radical Islam. Trump believes that,† Many of the principles of Radical Islam are incompatible withRead More The Media Portrayal of Islam Essay954 Words   |  4 PagesThe Media Portrayal of Islam Islam is portrayed and is commonly accepted as the most violent and largest direct threat to the West. This is a generalization made by most of the West, but it is not particularly the West or the Islamic people’s fault. There is constant turmoil in Islamic countries in the Middle East and these conflicts are what make the news in the West. The only representation in the media that the Islamic nation gets is that of war. Though most Islamic people are notRead MoreIslamic Organizations Post World War II923 Words   |  4 Pagesget farther into the book, I become more intrigued into the events that took place in America in regards to Islam. I never actually knew the broader history behind the enlargement of Islam in the United States. The formation of different Islamic organizations post World War II was very interesting, because it created a society where Muslim immigrants can unite; such as the Nation of Islam and the FIA. I found that the sociological, and politic al aspects of these religion-based communities and organizations

Advertisements Exploiting Children Free Essays

Are current practises of advertising to children exploitative? What restrictions should be placed on advertising to children? Up until recently, parents had been the intended target audience for advertising efforts aimed for children of young age groups. However it is now the children who have become the main focus. The growth in advertising channels reaching children and the privatisation of children’s media use have resulted in a dramatic increase in advertising directly intended for the eyes and ears of children (Wilcox et al. We will write a custom essay sample on Advertisements Exploiting Children or any similar topic only for you Order Now 2004). It is estimated that advertisers spend more than $12 billion a year on the youth market with more than 40,000 commercials each year. The current practises of advertising to young children definitely exploit their lack of understanding and comprehension of the aim of advertising and promotion of products. In the early 1970’s, The Federal Communications Commission originally set out to ban all advertising that was aimed at young children, however ended up settling for a more lenient proposal of limiting the amount of time advertisements were aired within children’s programs and put in place certain restrictions to do with advertising practises (Wilcox et al. 2004). Studies have shown that the age range of 8-12 year olds spend $30 billion directly and influence $700 billion on family spending each year. This can be attributed to a relatively high extent to the fact that 46% of 5-14 year olds watch more than 20 hours of television per week with tens of thousands of TV ads shown per year (Neil 2012). Neil (2012) quotes that a child who watches 4 hours of TV per day over a 6 week holiday period would have viewed a total of 649 junk food ads including 404 advertisements for fast foods; 135 advertisements for soft drinks; and 44 for ice cream products. Until quite recently, advertisers viewed children around and under the age group of 8 as off limits when it came to advertising targets. However, industry practises have now developed and make for greater degrees of age niche advertising (Wilcox et al. 2004). Along with this growth in marketing efforts, there has become a rapid increase in the use psychological knowledge and research to effectively market products to young children. An example of this includes a study that was specifically designed to determine which strategy best induced children to nag their parents to buy the advertised product (Wilcox et al. 004). Exploitation refers to the idea of taking advantage of something you shouldn’t take advantage of. In relation to ads, advertisers are taking advantage of children’s lack of understanding, their innocence and their vulnerability to persuasion (Neil 2012). Young children tend to be particularly vulnerable to advertising as they do not fully understand the intent of advertisers and the process of creating an ad (Gunter, Oates Blades 2005). Children are not born with any knowledge of economic systems with their awareness of advertising and marketing developing only gradually later in life. Adults too can be influenced by an ad, which is the reason for ads in general, but they are able to interpret the messages in the context of the advertisers’ intentions to prevent them from being exploited, unlike children (Gunter, Oates Blades 2005). Neil (2012) states that children up to the age of 4 see ads merely as entertainment, progressing to believe advertisements provide information at ages 6-7. At ages 7-8 they still cannot distinguish between information and intent to persuade and once they reach 10-12 years they can understand the motives and aims of advertising but are still unable to explain sales techniques. The Australian Communications and Media Authority (2007) explain that advertisers may create advertisements that appeal to a child’s cognitive abilities. Research was conducted that indicates different age groups respond differently to formal stimuli in commercial, for example colours attract younger children while message text attracts older children. This uses leverage of children’s cognitive development to entice the purchase of the product. Furthermore research on the language of advertisements, while used to promote products, may be purposefully constructed to confuse younger children at lower levels of cognitive development. Simple correlation research in the US indicates that children typically aged 2-6 years who view more television advertising request more products from their parents. This is known as pester power. It has been found that parents are more likely to buy products when kids ask for them in the shop (nag factor). As children age, they develop the cognitive capacity to contextualise and act critically on the observations made, reducing the amount of requests for products (Australian Communications and Media Authority, 2007). Children who are exposed to TV commercials for toys not only develop the initial idea for the toy but repeatedly pester their parents to buy it. This is exploitation on the arents’ behalf as it often causes parent-child conflict when the parents deny their children the product (Wilcox et al. 2004). Another troubling issue relating to child advertising exploitation is in reference to food ads. Half of the advertisements in the UK directed at children concern food. There are little ads emphasising healthy eating and since the start of television advertising, the largest proportion of ads aimed at children has always been unhealthy food products (Gunter, Oate s Blades 2005). The Australian Communications and Media Authority (2007) detailed the New South Wales Department of Health content analysis which found that 43% of all food advertising was for high fat/ high sugar foods and 36% was for core foods (such as breads, pasta). Additionally, approximately 48% of food advertising in times defined by the study as ‘children’s viewing times’ was for high fat/ high sugar foods. Consequently, children become confused and consider unhealthy foods to actually be healthy. Toys aren’t as controversial as they don’t exhibit the same health implications as do fast food ads. However, over-playing how good a toy is, or presenting misleading information is very unethical as children cannot comprehend some messages. The writing on the screen about disclosures are usually too quick to read or even understand as an adult, let alone a young child (Gunter, Oates Blades 2005). Wilcox et al. (2004) demonstrates the exploiting nature of advertisers when it comes to tobacco and alcohol. A variety of studies show a substantial relationship between children’s viewing of these products in ads and positive attitudes toward consumption of such products. The studies conclude that advertising of tobacco and alcohol contributes to youth smoking and drinking. Characters from movies and television programmes often attract children’s attention with research indicating that the use of real life or animated characters is positively associated with memory and attitudes toward products and has the potential to confuse children as they do not realise they are getting paid for the advertisement so it is likely it’s not genuine promotion of a product (Gunter, Oates Blades 2005). Another trick that advertisers use is on the BBC. BBC programs are â€Å"non-commercial† but some of the programs have been specifically designed to include products directed at children to make it harder for children to recognise when they are being targeted by marketers. This shows a negative change in children’s advertising. Body image is another major aspect of young children’s lives as they are vulnerable to their self-image (Gunter, Oates Blades 2005). Advertisements use attractive people to sell products which reinforce the pressures on young people to conform to the ideals of beauty that are hard or near impossible to achieve. Marketing of dieting products therefore appeal to young children in recent times including primary school children. Currently there are regulations in place that have been implemented under the Children’s Television Standards in 1990, enforced by the Australian Broadcasting Tribunal. These include placing limitations on the broadcast of advertisements during ‘Children School Age’ programs (no ad more than twice in 30 minutes) and ‘Preschool Age’ programs (no ads at all). Also, no misleading or deceiving ads, no undue pressure on children to ask their parents to buy something or any unsuitable material including alcohol and cigarette ads, or demeaning/racists/sexist etc. ads(Australian Communications and Media Authority 2007). To further these regulations, many recommendations have been made. Wilcox et al (2004) suggested that while it is impossible to protect this age group from all commercial exposure, it is essential to restrict efforts made by advertisers to focus primarily, if not exclusively, on this uniquely vulnerable portion of society. They also state that advertising disclaimers used in ads be stated in a language that children can read and understand and be shown in both visual and audial contexts in a time length that is conducive to reading, hearing and comprehending. For example, stating â€Å"You have to put it together† instead of â€Å"Partial assembly required† in toy ads. Gunter, Oates and Blades (2005) point out that advertisers usually argue against any extension of regulations, claiming that very young children, even from the age of 3, have some understanding of advertising. If this is so, it is not enough. A child’s recognition of advertisements is not the same as a child’s understanding of their persuasive intent. Some argue that rather than extending regulations, the most effective way to help children understand advertising is through their parents by informing kids of the nature of ads. However as children become more independent with access to their own TVs, parents increasingly have less control over what children watch and less opportunity to discuss advertisements that might have been seen during family viewing. As well as the fact that parents often lack sufficient knowledge of regulators and their regulatory responsibilities. These excuses made by advertisers just show how ignorant they are in the potential harming of young children. In conclusion, advertisers know that their efforts greatly influence child audiences. Targeting children below the ages of 8 years is inherently unfair because it capitalises on younger children’s inability to sense persuasive intent in an advertisement. Due to this, children around and below this age are exploited as they take in information placed in commercials uncritically, accepting most of the claims and appeals put forward as truthful, accurate and unbiased. Reference Australian Communications and Media Authority 2007, Television Advertising to Children, accessed 6/9/2012, http://www. acma. gov. au/webwr/_assets/main/lib310132/television_advertising_to_children. pdf Gunter, B, Oates, C Blades, M 2005, ‘The Issues About Television Advertising To Children’, in Advertising To Children On TV: Content, Impact, Regulation, Lawrence Erlbaum, Mahwah, pp1-13. Neil, D 2012, PHIL106 ‘Advertising to Children’, lecture notes, accessed 1/9/2012, eLearning@UOW Wilcox, B, Kunkel, D, Cantor, J, Dowrick, P, Linn, S Palmer, E 2004, ‘Report of the APA Task Force on Advertising and Children’, American Psychological Association Australian Association of National Advertisers, AANA Code for Advertising Marketing Communications to Children, accessed 9/9/2012, http://www. aana. com. au/pages/aana-code-for-advertising-marketing-communications-to-children. html How to cite Advertisements Exploiting Children, Papers

Auditing and Assurance Analytical Procedures

Question: Describe about the Auditing and Assurance for Analytical Procedures. Answer: Part 1 Analytical Procedures Analytical procedures are the assessment of financial information of the organizations through relevant relationships between the elements of financial and non- financial information. In order to analyze the performance of the company and evaluate the financial position that helps in taking business decisions. Various financial ratios can be used to understand the business information of the company related to the income statement and financial statement (Cao, Chychyla Stewart, 2015). In order to understand the given financial statement of the client company financial ratios on income statement and balance sheet have been evaluated for the year ended 31 March 2016. Analytical procedures related to the financial performance year 2016 Financial Ratio Calculation Formula Ratio Profit margin ratio (year 2016) Net income/ Net sales $183,000,000-135,000,000/183,000,000= 26.23% Profit margin ratio (year 2015) Net income/ Net sales $83,000,000-55,000,000/83,000,000= 33.73% Profit margin ratio (year 2014) Net income/ Net sales $88,000,000-59,000,000/88,000,000= 33.00% Return on shareholder's equity (year 2016) Net income for the year/ average shareholders' equity $48,000,000/130,000,000= 36.92% Return on shareholder's equity (year 2015) Net income for the year/ average shareholders' equity $28,000,000/75,000,000= 37.33% Return on shareholder's equity (year 2014) Net income for the year/ average shareholders' equity $29,000,000/75,000,000= 38.67% Analytical procedures related to the financial position, year 2016 Financial Ratio Calculation Formula Ratio Working Capital (year 2016) Current assets- current liabilities $222,170,000-153,000,000 = $69,170,000 Working Capital (year 2015) Current assets- current liabilities $108,550,000-125,800,000 = $(17,250,000) Working Capital (year 2014) Current assets- current liabilities $164,900,000-119,500,000 = $45,400,000 Current ratio (year 2016) Current assets/ Current Liabilities $222,170,000/ 153,000,000 = 1.45 Current ratio (year 2015) Current assets/ Current Liabilities $108,550,000/ 125,800,000 = 0.86 Current ratio (year 2014) Current assets/ Current Liabilities $164,900,000/ 153,000,000 = 1.07 Inventory turnover ratio (year 2016) cost of goods sold for the year/ Average inventory for the year $135,000,000/ 148,670,000 = 0.91 Inventory turnover ratio (year 2015) cost of goods sold for the year/ Average inventory for the year $55,000,000/ 79,000,000 = 0.70 Inventory turnover ratio (year 2014) cost of goods sold for the year/ Average inventory for the year $59,000,000/ 93,000,000 = 0.63 One of the essential analytical procedures to evaluate the companys financial performance during the year is profit margin ratio that is considered after tax and other business expenses. In case of Client Company, net profit margin for the year ended 31 March 2016 is 26.23% that means the company is earning profit on sales 26.23% after deducting all other expenses. However, in the present case, data of other expenses including tax expenses have not been provided. Therefore, it is assumed that the profit margin is considered after tax and other expenses. Since, the companys profit percentage is 26%, it can be said that the organization is highly efficient and strong in business operation. Another important procedure for evaluating the companys performance is return on shareholders equity, computed by considering net income and shareholder equity capital (Alles, 2015). Since, the companys return on shareholder's equity in the year 2016 is around 37%, it can be said that the company is highly efficient in providing return to its investors. On the other hand, company working capital expresses the ability to pay off the current obligations like loan payments, bills etc. As the company has working capital amounted to $69,170,000 in 2016 the company is capable to pay off the short-term obligations. However, the companys current ratio is 1.45, which is less than 2 hence, it can be said that the entity is required to improve its current ratio to meet the current liability obligations. Moreover, the inventory turnover ratio is also less than 1 that means the company is not efficient in rolling its cash balance by selling off the inventories. Summary of financial information analysis During the year 2016, the performance of the company was quite efficient but the ratio between current asset and current should be improved since it is less than 2. Additionally, the inventory turnover ratio is less than 1, which states that the company should improve its marketing structure by selling more inventories. Although the efficiency of company to generate returns for investors is good yet its financial position need to be improved. In the financial year 2015, the company has current liabilities more than current assets therefore the company was not efficient in paying off the obligations. Additionally, in the year 2016 the company gained the current ratio to 1.45 that means the company maintained the efficiency as in the year 2014. Balance in reserves in the year 2016 increased by almost 50% that that in the year 2015, which implies that the company has investment, plans that requires sufficient fund. Therefore, the company is focusing on retention of profits earned during the year to improve expand the business operation. Benchmarking Benchmarking is a procedure conducted by the organizational management to examine and analyze the best practices in the business activities within the industry. In the perspective of auditing, benchmarking is a process to examine the policies and practices conducting by the organizations with true and fair view (Mohamed, 2015). Auditing is the process of examining the financial statements of the company to check its transparency and fair presentation and disclosure of financial information. On the contrary, benchmarking is considered to examine the best practices for business sustainability, corporate governance and preparation and business operating activities (Juan-Borrs et al., 2015). In case of Client Company, the profitability ratio and return on shareholders equity are high whereas the current ratio and inventory turnover ratio are lower than the required standard ratio. Considering the results of current ratio 1.45 and inventory turnover ratio 0.91 calculated in the above part, it has been noted that the verification of inventory should be carried on to check its correct disclosure in the reports. Benchmarking in this respect should be analyzing the correctness of the valuation and disclosure of inventory for the year 2016 as it increased by around 46% from that of the year 2015. Part 2 Introduction Analytical procedures as a part of auditing process help the auditors to understand the companys business functions as well as identifying the potential risks. It assists the auditors to plan the other auditing procedures to examine and verify the business activities and financial information to detect the transparency and accountability (Lau Ooi, 2016). Discussion Risk analysis stage: For conducting the procedures of auditing, analytical procedures serves essential evidence, that includes the assessment of recorded financial information. The analysis of financial statement components is carried on by studying the current years and previous years financial data. While considering the analytical procedures in auditing the auditor can incorporate three types at three different stages, which are preliminary, substantive and final stage (Kim et al., 2016). Analytical procedures are conducted by determining the relationships among different elements of accounting balances in the form of ratio analysis and trend analysis. Draft account: At the preliminary stage analytical procedure is carried on by auditors to examine the accounting balances for purchases, sales, production costs, accounts receivables, payables and other relevant balances to verify the performance of the company (LeBaron Lister, 2015). It is the responsibility of the auditor to test the accounting balances and reported financial information of the client companies to evaluate the correct valuation. In case there is any discrepancy in the initial recording of the transactions, the same would affect the entire financial statement of the companies. Therefore, it is important to review the initial records of the transactions so that the effect of the same can be easily detected in the financial statements of the company (Oktorina Wedari, 2015). At the next stage, the auditor can perform analytical procedures by conducting sampling test or test checking by randomly selecting the account balances if there are large numbers of transactions . Final account: In order to check the correctness of the increase or decrease in the recorded transactions of the financial information, the auditor is required to conduct the ratio analysis and trend analysis different related components (Bills Cunningham, 2015). Such analysis is also computed to determine the relationship between the business activities as well as the efficiency of the companies to meet the obligation towards stakeholders. Apart from the analysis of financial information, analytical procedures are conducted to evaluate the non-financial data as well. Reports on business sustainability, corporate governance presentation of financial information according to the accounting principles and standards are examined through analytical procedures (Gros, Koch Wallek, 2016). Conclusion Analytical procedures are not only used to examine the correctness of the financial information but it is used through the entire audit process. The use of analytical procedures assists the auditors to plan the nature, timing and extent of other audit process. It helps the auditors to examine the appropriate use of accounting standards, principles and valuation methods that identifies the transparency of the statement of income and statement of financial position. Similarly, auditors carry substantive analytical procedures to generate the required evidence in the accounting reports if there are any possible frauds, errors or misrepresentations. It is significant to present the correct report on test checking about the companys performance during the year for the benefit and interest of investors and other users of companies annual reports. Reference List Alles, M. G. (2015). Drivers of the Use and Facilitators and Obstacles of the Evolution of Big Data by the Audit Profession.Accounting Horizons,29(2), 439-449. Bills, K. L., Cunningham, L. M. (2015). How Small Audit Firm Membership in Associations, Networks, and Alliances Can Impact Audit Quality and Audit Fees.Current Issues in Auditing,9(2), P29-P35. Cao, M., Chychyla, R., Stewart, T. (2015). Big Data analytics in financial statement audits.Accounting Horizons,29(2), 423-429. Gros, M., Koch, S., Wallek, C. (2016). Internal audit function quality and financial reporting: results of a survey on German listed companies.Journal of Management Governance, 1-39. Juan-Borrs, M., Periche, A., Domenech, E., Escriche, I. (2015). Routine quality control in honey packaging companies as a key to guarantee consumer safety. The case of the presence of sulfonamides analyzed with LC-MS-MS.Food Control,50, 243-249. Kim, J. B., Li, L., Lu, L. Y., Yu, Y. (2016). Financial statement comparability and expected crash risk.Journal of Accounting and Economics,61(2), 294-312. Lau, C. K., Ooi, K. W. (2016). A case study on fraudulent financial reporting: evidence from Malaysia.Accounting Research Journal,29(1). LeBaron, G., Lister, J. (2015). Benchmarking global supply chains: the power of the ethical auditregime.Review of International Studies,41(05), 905-924. Mohamed, H. M. (2015). Green, environment-friendly, analytical tools give insights in pharmaceuticals and cosmetics analysis.TrAC Trends in Analytical Chemistry,66, 176-192. Oktorina, M., Wedari, L. K. (2015). An Empirical Investigation on Ownership Characteristics, Activities of the Audit Committee, and Audit Fees in Companies Listed on Indonesia Stock Exchange.Applied Finance and Accounting,1(1), 20-29.