Financial Statement Forecasting Essay Example | Topics and Well Written Essays - 750 words

Financial Statement Forecasting - Essay Example There is no denying the fact that;" investors and share holders around the world base their decisions on financial and economic forecasts (Olley, 2006, 1)." Thus a professional, pragmatic and propitious financial statement forecast will fortify its plans of rapid future growth by exploiting novel business opportunities, undergoing product diversification and resorting to aggressive acquisition. The success of a company depends to a great extent on the reliability of its financial statement forecasting. To ensure this, it is a must that," the assumptions made in the previous Corporation Budgeting cycle, but not limited to, estimated sales volume, capital requirements, staffing resource requirements, customer demands and vendor contracts" are all meticulously verified and updated to reveal all the possible changes and the most recent data available (Harvard, 2008). All the possible changes projected or encumbered should be balanced by an appropriate action by the management. Microsoft Excel is the most common tool used during forecasting. Financial forecast has to be customized to suit the external and internal realities of a business and has to be flexible to accommodate future changes. The most common methodologies used for forecasting are Current Year Budget, Straight Line, Year to Date Actual plus Estimated Future Spending and Prior Year Data.Though the data required to achieve a financial forecast is basically the same as what is required to accomplish the budgeting process, forecasting differs from the budgeting process in the sense that a budget is a statement prepared a year in advance that gives guidelines for spending and acts as a yardstick for analyzing the business performance of a company, forecasting involves extrapolating the current performance of a company to estimate the future income, expenditure and growth prospects..References Financial Forecasting (2008). Harvard. Retrieved August 24, 2008, fromhttp://www.vis.harvard.edu/staff/policies/financial_forecasting.php Funky Finance (2008). CIMA. Retrieved August

Isolation and identification of unknown bacteria Lab Report

Isolation and identification of unknown bacteria - Lab Report Example We used standardized procedures in the process of cultivation of bacetia. We received pure culture of unknown organism. Using Bunsen burner the loop was sterilized by heating the entire wire into the flame of the burner until it glows with bright red or orange color and afterwards the loop was left to cool. The culture of uknown bacteria was held in inoculation tube in a form of liquid culture and the inoulation tube was sealed with sterile cap.. We maintained aseptic conditions during the handling of the culture. During the whole process the caps and the tubes were held in hand were not allowed to be contaminated by contacting the table or other source of environmental bacteria. The openings of the inoculation tube was sterilized by burning with the Bunsen burner twice in order to avoid contamination with environmental bacteria. With the cooled loop, carfully not to touch the sides of the tube we collected one loop of material and after that the edges of the tube were again burned with flame from the Bunsen burner and the caps were put . The loop was then inoculated on two separate TSA plates. The lid of the plates was opened with free hand and the material was seeded with gentle strokes of the loop using T streak method in order to allow optimal contidions for growth. The lid was then put back on the plates and the loop was again sterilized by burning until glowing bright red on the Bunsen burner. ... erilized by heating the entire wire into the flame of the burner until it glows with bright red or orange color and afterwards the loop was left to cool. The culture of uknown bacteria was held in inoculation tube in a form of liquid culture and the inoulation tube was sealed with sterile cap.. We maintained aseptic conditions during the handling of the culture. During the whole process the caps and the tubes were held in hand were not allowed to be contaminated by contacting the table or other source of environmental bacteria. The openings of the inoculation tube was sterilized by burning with the Bunsen burner twice in order to avoid contamination with environmental bacteria. With the cooled loop, carfully not to touch the sides of the tube we collected one loop of material and after that the edges of the tube were again burned with flame from the Bunsen burner and the caps were put . The loop was then inoculated on two separate TSA plates. The lid of the plates was opened with fre e hand and the material was seeded with gentle strokes of the loop using T streak method in order to allow optimal contidions for growth. The lid was then put back on the plates and the loop was again sterilized by burning until glowing bright red on the Bunsen burner. Gram stain For completing the Gram stain we needed Gram stain reagents (crystal violet, Gram's iodine, 95% ethyl alcohol, and safranin), microscope slides and bacterial cultures. In preparation of the Gram stain asepttci principles were used. Inocultion loop was sterilized by burning on a Bunsen burner until bright red color appeared. Five loop of the unknown colony were placed on a microscope slide and the material was sread even on the surface of the slide. The material was left to air-dry and room temperature. After this