American History Dissertation Example | Topics and Well Written Essays - 250 words

American History - Dissertation Example Ultimately, the discovery of tobacco allowed Virginia to prosper. The documents of incorporation for Virginia show that it was always intended as a business venture, chartered by the queen for profit, and not a fully fledged colony. This would help lead to the Revolutionary War, as the British felt that their colonists were generally British citizens who just happened to be making money for them and not fully-fledged colonists. Puritans in Massachusetts, meanwhile, wanted to create a utopian community, one free from evil and un-Christianity, a shining light on the hill for the world. The Mayflower Compact illustrates a desire to have some kind of localized democracy, but it's important to note that in many ways Massachussetts would be called undemocratic now, because of its radical religious interpretations and punishments for defiance. The distinction between them played out in establishing much of the course of American history. In the North like Massachusetts, civil society and in tegration due to closely connected cities would create a different culture from the South where farmers spent a lot of their time apart and civil society was far less powerful. The North did not have slaves, but it did participate in the slave trade; the Southerners bought slaves.

Research paper on recent mnc acquisition Example | Topics and Well Written Essays - 1750 words

On recent mnc acquisition - Research Paper Example The annual sales of Alcon in 2009 was above USD 6.6 million and its operating profit stood over USD 2.2 billion while net income was over USD 1.99 billion. The acquisition of the Alcon will give Novartis the opportunity to expand its portfolio in the eye care segment where there is a latent potential for growth due to aging population and globalisation of emerging markets. The combined portfolio of Alcon and Novartis can now tackle a broad range of untapped demands in this segment. The most important thing to note about the success of this acquisition is the complementary pharmaceutical portfolios of these two companies that filled the gaps between the back and frontal eye. It also has the chance to gain leverage form its strong global brands in eye lens. Financial impact In April 2008, Novartis and Nestle entered into agreement for Nestle’s sale of 77% stake in Alcon. It was divided in two stages – stage one required Novartis acquiring 77% majority stake in Alcon from Nestle by paying $168 per share taking the deal to $ 38.7 billion. In this stage Novartis acquired 25% stake in Alcon for $ 10.5 billion. In the second stage, Novartis acquired remaining 52% stake from Nestle for $ 28.4 billion. The majority stake cost Novartis $ 38.69 billion that includes adjustments for interest and dividend. The initial 25% stake was financed by $ 17 billion in cash and $ 13.5 billion was financed by bonds. Remaining $ 8.19 billion was financed by US commercial papers. The weighted average external financing cost stood at 2.5% per year as on March 2010. With 77% stake in the majority ownership of Alcon, it will consolidate Alcon’s financial statement into Novartis’ financial reporting. Preliminary assessment shows that initial 25 % stake in Alcon need to be re-valued to its fair value. Such revaluation will result in $ 200 million gain for Alcon. The additional amortization before tax of intangible assets stood at $ 2.2 billion per year. The four m onth analysis of balance sheet of Alcon in 2010 till April estimates Alcon’s value at $ 200 million including increased inventory. Over the next three years after acquisition, the onetime cost to achieve a synergy of approximately USD 199 million is expected to be around $ 139 million including transaction and other charges. Accounting Requirements for Business Combination Accounting requirements for combination of business requires parent entity to prepare a consolidated financial statement that includes the report of all subsidiaries. However, this does not mean that the subsidiaries are excluded from presenting consolidated reports. All items must be accounted for at fair value including investments. In case of shared power as in case of joint ventures, the consent of all parties will be required. For acquisitions, it is extremely important for the acquirer to determine the timing and the nature of acquisition. The profits and losses as a result of intra-firm transactions between Novartis and Alcon including treatment of fixed assets and inventories must be eliminated. The accounting for contingent asset or liabilities and subsequent adjustment at fair value is also one of the challenging aspects in case of business combinations. Other factors to care of during business combination include pre-acquisition contingencies treatment, interaction of accounting standards between the acquirer and the acquired, treatment of intangible assets (including goodwill), treatment of risk management, proper disclosures under accounting policies, treatment of