Accounting for Corporate Finance - MyAssignmenthelp.com

Question: Discuss about theAccounting for Corporate Finance. Answer: Introduction Financial statement helps to determines the key facts and figure of the company financial statement. Balance sheet, cash flow statement and income statement are the three primary financial statements which company prepare and publish at the end of each accounting year. The financial statement is also known as the company annual report. The financial report prepares and published by the organization at the end of each accounting year helps several users to get the exact ide about the company financial health for the current year and thus help the users to prepare a strategy whether to invest or not on the company to evaluate the company overall ability to perform for the coming year. Financial statement analysis helps the company to determine the overall identification of the given items for the given annual report of the company for the given fiscal period. The trends lines related to the key items included in the financial statement overall a multiple time frame which help to throw light on the company ability or performance (Appannaiah, Reddy and Putty, 2010). The trend line helps to throw light on the company revenues, gross margin, net profit cash and other key facts which are responsible for the company financial growth or debacles. The financial statement helps to provide detailed information about the company financial position in the market and thus help the company to get a clear idea about the current issues and loopholes lies in the company and spate measure need to be taken to accomplish the goal and objective of the company. The financial statement analysis consists of the three basic elements which include income statement, balance sheet, and cash flow statement. Users of Financial Statement Analysis The users of the financial statement are many with a common goal or aim to determine and identify the company financial health which eventually helps to them to take effective decision regarding company. The users are as follows, Creditors : Creditor are the individuals who lent fund to a firm with a motive to get a return levied with interest, therefore the company cash flows measure is determined in order to get a clear idea about the company ability to pay back its borrowed fund. Investors: Investors are the individuals who are both new and prospective investor asses the financial statement which help them to provide an idea about the company ability to continue providing dividends or to generate capital flow or to grow as per the past year financial performances (Britton and Waterston, 2013). Management: the firm controller generates and prepare several analyses on the annual report prepared and released at the end of each accounting year which are related to the performance metrics which are not authorized to external stakeholders or users. Methods of theFinancial Statements The two methods that are used in the analysis of the financial statements are vertical and horizontal analysis. The horizontal analysis shows the comparison of the financial information during a period of time and vertical analysis is the refer to the proportional analysis of the financial statement in which the items are listed in percentage. It means that the items in the income statement are depicted as the percentage of the gross sales and items on the financial position statement are depicted as percentage of the total assets (Helbk, Lindset and McLellan, 2010). The horizontal analysis shows the results on the multiple periods of time and the vertical analysis shows the proportion of the accounts within a single time period. The second method to analyse the financial statements is estimating the financial ratios. The ratios are used to estimate the value of one number in comparison to another. The ratios can be compared with the ratios calculated in the previous year which based on the industry average. Most of the financial ratios would be within expectations in the typical financial statement analysis with minimum issues attracting the attentions of the users. The financial ratios are as follows: Liquidity Ratios The liquidity ratios help to determine and examine the ability of the corporation to pay the all the liabilities. It consists of most significant ratio which help to estimate the financial health of the organization. Current ratio: The current ratio measures the ability of the corporation to pay the short term obligations. The ratio below one indicates that it will be difficult for the corporation to pay the obligations and the ratio above one implies that the company is not efficiently using its assets resources (Parrino, 2015). Quick ratio: The quick ratio is same as current ratio but it does not count inventory. Debt to equity ratio: Debt to equity ratio shows the debt level of the company. The increase in the value of the ratio means the high level of debt and low value means decrease in the value debt level. Profitability ratios: The profitability ratios show how well the organization can generate the profit. Profit margin: The increase in the value of the profit means increase in the profitability and decrease in the value means decrease in the profitability. Gross profit margin: The gross profit margin depicts the sales revenues deducted from cost of goods sold which shows the gross profit of the organization. Return on equity: The return on equity ratio shows the ability of the company to generate returns from the shareholders funds. Return on the assets: The return on the assets resources shows the ability of the organization to utilize all the asset resources. The high value means the company utilizing the asset resources. Return on the operating assets: The return on the operating assets shows the ability of the company to generate returns from the business operations. The increase in the value means the company is generating returns from the business operations. Activity ratios: The activity ratio shows the efficiency of the organization during a specific period of time. Account payable ratio: The ratio shows how much time the company is taking to pay the suppliers. Account receivable ratio: The ratio shows how much time the organization is taking to collect all the due amounts (Powers and Needles, 2012). Fixed turnover ratio: The ratio shows the ability of the company to generate returns from the fixed assets. Inventory turnover ratio: The inventory turnover ratio shows that the inventory is required to support the sales of the products. Issues with the Financial Statement Analysis The financial statement analyse is a significant tool and there are many issue that can interfere in the interpretation of the financial results. The issues are as follows: Comparability between the periods: The organizations preparing the financial statements can change accounts in which the financial information is stored. This can lead to the different in the in the results from one period to another. Comparability between the organizations. The analysts compare the financial ratios of different organizations to determine the values of the company. However, each organization can aggregate the financial statement information differently and the results of the ratio many not be compared appropriately. Elements of Financial Statements Balance sheet helps the company to provide an accurate value of the company assets and liability for the current fiscal year. The balance sheet helps the organization to determine the key facts and figure related to the several significant issues lies in the company overall working condition and thus help to find the issues which obstruct the overall growth of the organization from the asset and liability side. The financial position statement of the company helps to throw light on the solvency and liquidity aspect of the company which help to determine the ability of the company to pay off their liability with the available resources. Short term liability and current liability of the company is determined by the current ratio and quick ratio provides significant information about the companys ability to debt and equity differences. Balance sheet helps to provide company key ability to pay off their debt as per the calculated balance sheet ratio which include the company current rati o, debt to equity ratio, quick ratio and financial leverage (Weil, 2017). The company key ratio helps to examine the company financial strength and weakness and thus help the organization to prepare a strategy to overcome the key issues determined from the company financial statement. Balance sheet of the company help to analyses the account payable, account receivable, asset turnover ratio, debt equity ratio, financial leverage ratio etc. which help the company to determined and identify the key loopholes and issues resides in the company and thus help to utilize the resources fully which eventually have fruitful impact on the company financial profit part. Balance sheet of the company helps to provide a clear understanding of the key facts and figure related to the asset or resource utilization in the most appropriate way. Income Statement Income statement is considered to be financial statement primary element which helps to throw light on the company profit or loss incurred for the given fiscal year. Income statement is the statement which helps to determine the expense incurred or expense done during the accounting period. The company income statement consists of the income and expense incurred for the given fiscal year. The income statement helps to estimate the key financial ratio which helps to provide clear and precise idea about the company financial growth for the given fiscal year. The company depreciation expense is measure with the help of the profit and loss statement. The key financial ratio which is calculated with the help of the profit and loss statement are gross profit margin, earning per share, profit margin, return on stockholders equity and times interest earned which is calculated after tax. Gross profit margin helps to throw light on the percentage of sales which is available for expense and pro fit after the overall cost of the product is deducted from the sales. The gross profit margin differs between the companies with the same segment operating. The incomes statement helps to throw light on the organization key facts and figure which is determined the company ability to earn profit for the given fiscal year. Cash Flow Statement Cash flow statement is the differences between the cash inflow and cash outflow for the given fiscal year. The three basic activities of the cash flow statement are investing activities, operating activities, and financing activities. The cash flows from operating activities is the net incomes which is deducted with the expense incurred from the depreciation, increase in the account receivable, decrease in the inventory and decrease due to the account payables. Finally the cash left is the cash provided or used in the operating activities is calculated. Cash flow from the investing activities consist of the cash expenditure which is added with the proceed from the sale of property (if any), the cash calculated by deducting the above with the later provide the cash provided by the investing activities. The cash flow from the financing activities is considered to be vital as it is calculated based on the burrowing of long term debt which is deducted with the two other element which are cash dividends and purchase of the treasury stock which give the cash provided by the financial activities (Parrino, 2015). The cash flow of the statement helps to determine and identify the cash inflow and outflow for the given fiscal year. References Appannaiah, H., Reddy, P. and Putty, R. (2010).Financial accounting. Mumbai [India]: Himalaya Pub. House. Britton, A. and Waterston, C. (2013).Financial accounting. Harlow: Financial Times Prentice Hall. Helbk, M., Lindset, S. and McLellan, B. (2010).Corporate finance. Maidenhead, Berkshire: Open University Press/McGraw-Hill Education. Parrino, R. (2015).Corporate Finance. Singapore: John Wiley Sons. Powers, M. and Needles, B. (2012).Financial accounting. [Mason]: South-Western, Cengage Learning. Weil, R. (2017).Financial accounting. [Place of publication not identified]: Cengage Learning.

Mystery Shopper in JC Penny Stores in US

Executive Summary The following essay is about mystery shopping and ways of improving shopping experience in JC Penny stores in the United States. With increased competition among the retail service providers and the consumers scaling down their budgets to cope up with the hard economic period, it is imperative for the companies to ensure that they are well prepared in their stores for their greatly experienced customers.Advertising We will write a custom report sample on Mystery Shopper in JC Penny Stores in US specifically for you for only $16.05 $11/page Learn More Many organisations are contracting mystery shoppers in order to provide feedback on their customer’s experience as well as enable them to identify ways of improving their service delivery. Mystery shopping is an imperative aspect not only for the retailer but also for the retail shopper who is able to identify ways through which the business may improve within the shortest time possi ble. The need for these services is on the rise in many retail stores all over the world as well as providers of other services such as banks, hotels and software providers. This report is from Zeng Management and Consultancy, a firm that deals with consultancy activities especially in evaluation of services and products offered by a given company. This report will describe its findings on investigations carried out on JC Penny retail stores. The report includes the methodology of conducting the investigations and the various aspects of the company investigated. The final part of this essay will look into how JC Penny stores can improve their customer experience by making shopping more interesting than their competitors do. The research will provide details of the areas that need improvement in provision of customer service. The need for the increased customer experience is important to the many companies that provide the service in the field of marketing to ensure that there is pro per way of carrying out the business all over the world through well-integrated customer experience. With increased technology and the fact that word of mouth spreads faster than any other advertising method it is imperative for the companies seeking to improve their service delivery to contract the services of mystery shoppers. This will enable the companies to identify the areas that need improvement as well as identify their key strengths and competitive advantages in service delivery. Service delivery is an important aspect for any business irrespective of the quality of service or product it offers as most consumers look for a good shopping experience. The analysis of the JC Penny customer experience had the following methodology and findings.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Methodology The methodology used in mystery shopping involved three mystery shoppers in the JC Penny stores in Missouri where the mystery shoppers posed as ordinary shoppers and purchased candy ice cream. To incorporate all the three time zones, the company contracted three mystery shoppers at different times and at different stores of JC Penny as the company has different stores in different places. The shoppers came in at different time zones to gauge the services at different times of the day. They were to shop on weekdays and on weekends in order to note whether there are different trends on weekdays from weekends. The shoppers were to identify the appearance of the stores, the queues in the stores, the complaints brought about by the consumers, the appearance and the manner in which the attendants treated the customers as well as the general appearance of the place (Young, 2005). Findings The first evaluation was on the hospitality of the staff concerning welcoming the customers to the store. Only one attendant was at the entrance welcoming the customers and this was com mendable. After entering the retail stores, there were signboards to welcome and instruct the customers on where different types of goods are placed making it easier for the customers to locate the goods they wanted easily. During shopping, the attendants only assisted in identifying goods but they did not offer suggestions on what a customer should buy or which product was better than the other. As a mystery shopper, one of the aspects to look at is cleanliness of the retail store and for the JC Penny retail stores cleanliness is up to standard making the place spectacular. The shelves are well organised making the displays attractive and easy to locate goods. Concerning the availability of the staff to assist customers around the shelves there was only one staff per stand. This was overwhelming for him especially in the evening when most customers were streaming into the shop and some were new to the store and could locate of some of the goods and services. The other factor observ ed during the mystery shopping is the speed of the service (Young, 2005). The speed of the service regards how long the attendant takes to serve the customers. It was notable that during normal hours of the day there were no queues but during rush hours the queues intensified and at times, this made some of the customers restless and impatient.Advertising We will write a custom report sample on Mystery Shopper in JC Penny Stores in US specifically for you for only $16.05 $11/page Learn More Regarding the appearance of the staff, they were in their uniforms making it easy to identify them. They also wore their badges making it easy to identify them also with their names. The smiling attitude of the cashiers and attendants eased the atmosphere making the shopping experience exciting. However, in the clothing and electronic displays the attendants did not have the uniforms making it hard to identify them. The organisation of the clothing and electronic sto res was commendable. On the side of the furniture displays it was attractive and well arranged making the appearance spectacular (Young, 2005). As a mystery shopper, it is necessary to observe scenarios that a common shopper may not quickly identify. For instance, during the shopping experience a customer complained of having bought an expired product. The cashier discarded the product immediately and the customer received a refund of his money. The other notable scenario was that of complaints on the credit cards in that the company was delaying in deducting the payments making it appear as if the retail had given the products free of charge only to deduct the money afterwards. The attendant at the complaint desk said he would address the issue. The desk had only one attendant and during the rush hour there was a queue of customers in the customer care department with issues that demanded attention (Young, 2005). Other than this, the store did not have feedback forms for customers where they could evaluate the shopping experience and provide constructive criticism on the services provided by the retail store (Bradley, 2010). The retail store had a desk where they served the customers with after sales services such as packaging and transporting the goods to the car park in case they were bulky for the customer. They did not have a mechanism of collecting the data from the shoppers. On average the store serves over ten customers per minute as in every minute there were at least two customers getting into the store but during rush hour there were ten customers every minute streaming in. The loyalty department dealing with the issuance of loyalty cards was the most dormant part of the business with only one customer streaming in during the day and three customers registering at rush hour (Bradley, 2010).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More On the differences experienced in different days depending on whether the day was a weekend or not, the customer’s trends were not much different with most of the customers coming in the evening or rush hours. However, on weekends the number of shoppers was lower in comparison with the number of shoppers on weekdays. On weekends however, most customers came to shop together with their families unlike on weekdays when most of the customers were individuals. Recommendations The following are some of the recommendations derived from the findings to ensure that services provided in JC Penny stores are the best for any customer. The customer service department is a major department in any industry dealing with provision of services as the service provided to the customer regards marketing opportunities for the company. The need to cut on advertising budgets especially in a time when there are decreased sales is imperative by having alternative and cost effective ways of retaining customers and bringing in new ones. The first recommendation is that the company must look for ways of dealing with the inflow of customers during rush hours resulting into long queues by providing an effective and faster service (McDonald, 2007). The number of staff serving the customers during rush hours should therefore be increased. In addition, the chain store needs to employ part time staff to assist the full time staff during rush hours to ensure faster service. The attendant at the door welcoming customers is usually overwhelmed and tired during rush hours and it is important to add other staff to greet and welcome the buyers to the store as this gesture is necessary in creating a personalized customer experience (Bradley, 2010). The customer care department handling the customer complaints needs reconstruction as it has only one attendant yet there is always a queue especially during the rush hour. The retail store must assess its service delivery capabilities to identify w hy there are so many customers coming in for enquiries and complaint in the department. The JC Penny retail store must address the issue of customer complaints with seriousness as failure to address the issues raised by customers would create a bad image about the store and eventual loss of customers. It is necessary to combine the services provided in the store together with technology by having a portal where customers may voice complains online. This would help the company to address many issues raised by the customers. It would also be a means of receiving constructive criticism. Concerning feedback, it is important that the organisation formulate methods of proper and well-organised feedback collection from the customers. This is possible by providing feedback forms at the exit. The company will have to employ an attendant to assist the customers in filling the feedback forms (Marder, 2007). The attendant would also assist the customers to obtain the loyalty cards as well as is suing the customers with coupons regarding new products in the store as well as new price discounts. Other than providing the feedback forms, establishing a call centre to handle the customers’ enquiries is a priority for each of the JC Penny stores. The personalized attention offered is imperative in retaining customers’ loyalty and commitment to the company (McDonald, 2007). The company must be strict with suppliers who supply expired or defective products that usually cast the retail store in bad light. Before accepting goods from suppliers, the management must ensure that the goods are in good condition and that expired products are removed from the shelves. This is because defective products indicate that the store is not concerned with the welfare of the customers and this would cause unnecessary complaints and eventual loss of customers (Bradley, 2010). The other recommendation is that the customer service and the marketing department must look for ways of publi shing and creating awareness about their loyalty card program and the benefits accrued to signing up the program. The dormant and low turnout in the department indicates that even though the retail store has many customers, most of them are unaware of the loyalty program or they are not interested in it (McDonald, 2007). The attendants of the JC Penny stores need a continuous customer service-training program. This is crucial to the staff as it makes them knowledgeable on how to handle the customers. An in house training is of importance because it brings together the employees creating a bond between them. The training usually focuses on the customer service depending on the mission of the company towards their customers. The training is imperative in preparing the employees on how to provide a great customer experience to the shoppers (McDonald, 2007). In instances where the retail store is in the wrong such as when there are delays in the queue or a customer returns a defective p roduct the company’s management must be quick to apologise and refund the money to the customers concerned. This gesture creates trust and shows that the company is concerned with the customers’ welfare and that the management is trying to do all that it can to provide the best customer experience possible (Drucker, 1974). The appearance of the store is commendable in terms of organisation of the goods and packaging in a way that helps the customers to locate the goods faster. The uniforms worn by the attendants are an important branding strategy and that make it easier to spot the attendants and request their assistance (McDonald, 2004). As part of customer service program it is imperative for the company to find ways of appreciating the customers after shopping in the retail store. Providing the customers with gift cards would go a long way in ensuring that there is personalised attention to the customers. This would boost the loyalty of the customers. Appreciation g oes a long way in ensuring that the customers feel great and important in the store. It also makes them feel needed (Drucker, 1974). The other strategy in marketing which would improve the service delivery in JC Penny retail store is having a mailing list of the customers to enable them receive information about promotions. When creating the mail lists it is necessary to have the bio data of the clients such as their birthday and their social status as it helps in communicating with the customers by sending personalized messages to the clients thereby making them part of the store (Drucker, 1974). Implementing the loyalty programs where the loyal shoppers receive rewards via bonus shopping items or gifts would help in marketing the company to the potential clients as well as boosting customer loyalty (Drucker, 1974). Most companies do not have a marketing strategy dealing with the issue of customer service. They underscore the urgency and the role played by a good customer service m anagement especially in provision of retail services. It is therefore crucial for JC Penny to have a budget for their customer service department. The budget would ensure that the customer service activities are utilised to the maximum. The budget would also cater for training of staff, providing gift cards and hiring additional staff during the rush hours. The budget would ensure that provision of quality customer experience is a major marketing strategy to give the company an edge over its competitors (Drucker, 1974). As part of the budget, having a customer service strategic plan is imperative. It ensures that the data provided by the customers is relevant to the customers and that they are ready to succeed in the issues of the customer care management. The plan enables the company to set its priorities right in providing quality services by ensuring that the critical services have priority and they have the necessary funding to keep the company going. This is important in ensuri ng that there are proper mechanisms for the company to utilise its services and facilities as well as its management plan (Bradley, 2010). The management must continue to foster an attractive customer image to ensure that the employees are identifiable. Their adornment of the staff uniform is appealing and makes it easy for the shoppers to request for assistance. In the clothing and electronics malls, the same strategy has to be applied to ensure that the attendants are identifiable. The cleanliness of the retail store is commendable and it is imperative to ensure that proper mechanisms are implemented to keep the stall organised and in good appearance to appeal the customers (McDonald, 2007). Conclusion Competition for clients has intensified providing a great customer service. The modern customers are no longer concerned with the price alone but they also look for quality services, which offer value for their money through greater customer experience. The need to improve and harne ss those services makes it necessary for any company to provide quality services. The use of mystery shopper to assess the services offered by the company is a great strategy as it ensures that the assessment is not biased unlike in scenarios where managers are the one doing the assessment thus creating a tensed atmosphere between the employees. When good customer service mechanisms are in place, maintaining customer loyalty is manageable and attracting potential customers becomes easy without even advertising as the word of mouth spreads faster than the adverts. This makes customer service an integral part of marketing strategy for JC Penny store. As Zeng Consultancy company our objective is to ensure that the clients benefit from our study by assisting and conducting follow up mystery shopping to ensure that the clients of the company receive quality services from us and the service replicates in form of increased sales and customer satisfaction. References Bradley, N. (2010). Mar keting research. Tools and techniques. Oxford: Oxford University Press Drucker, P. (1974). Management: tasks, responsibilities, practices. New York: Harper Row. Marder, E. (2007). The laws of choice—predicting customer behaviour. Boston: The Free Press division of Simon and Schuster. McDonald, M. (2007). Marketing plans (6th ed.). Oxford: Butterworth-Heinemann. Young, C. (2005). The mystery shopper handbook. New York: Sage. This report on Mystery Shopper in JC Penny Stores in US was written and submitted by user Trevor Frye to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

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Jewish ghettos (Holocaust) essays

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History of Theatrical Costuming Essay Example | Topics and Well Written Essays - 1250 words

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Mid- Term Exam Assignment Example | Topics and Well Written Essays - 2500 words

Mid- Term Exam - Assignment Example In addition, this security model largely emphasizes the security aspects of information technology and helps people in analyzing all those important aspects that pertain to the comprehensive and valuable features of information technology (Whitman and Herbert 1-250). The three major components of the C.I.A triangle consist of Confidentiality, Integrity and Availability. Confidentiality: It is considered as one of the most important components of this particular model as it solely emphasizes the aspect of procurement of valuable information and it’s prevention from getting shared to unauthorized personnel. Information technology is considered to be a vital aspect as it serves multiple purposes. All kinds of major transactions that take place in today’s scenario are mostly based online mode and there are many malicious internet users who are very proficient in stealing and manipulating information that is highly restrictive (Whitman and Herbert 1-250). Integrity: It is al so considered to be a vital aspect of this particular triangle as this component largely emphasizes the protection of information along with preventing it from getting modified or even manipulated from any kind of unauthorized users which may prove to disrupt the information sharing process (Whitman and Herbert 1-250). ... to be the most important aspect in the field of information technology as it widely emphasizes the broad aspect of protection of information along with ensuring unauthorized access. It also facilitates to prevent revelation or disruption of the information to unwanted individuals. The two key concepts of information security essentially include IT security and Information assurance. IT security relates to ensuring proper security to the computers and all its components. Similarly, information assurance relates to the procurement of information and prevention of the valuable data from getting lost or being manipulated. However, both of these concepts have greater significance in relation to the triangle, especially in the modern day technological context as these concepts along with the components of C.I.A aim at a basic objective i.e. to ensure all round security in matters pertaining to information technology and its proper usage (Whitman and Herbert 1-250). Best example of informat ion technology and utilization of the concepts of information security and components of C.I.A would be that it is utilized by IT specialists, corporations, hospitals, financial institutions, government and military among broad entities. The components are utilized with the prime objective of ensuring comprehensive and steadfast security regarding various types of business information that are processed and shared for various authenticated and business purposes (Whitman and Herbert 1-250). 2. DESCRIBE AN INFORMATION SECURITY POLICY. EXPLAIN WHY IT IS CRITICAL TO THE SUCCESS OF AN INFORMATION SECURITY PROGRAM Information security policies are certain documented business rules and regulations that are implemented for the sole purpose of storing and protecting information in an appropriate

Prime Minister Essay Example for Free

Prime Minister Essay As he walked up the rickety stairs to the graveyard, his hand flaking the paint off the banister, listening to the thunderstorm overhead, Jake felt apprehensive. He was startled by the rustling of the autumn leaves in the bitter wind and the dancing of their shadows cast by the orange street light. He had left his friends house in a good mood but that was long gone as he sensed the peril that he was in. It was back. A creature had been following him on or off for weeks now and Jake could hear the sound of two extra footsteps a few metres behind him. He turned around but, as always, there was no one there. He knew he was not imagining it, but he didnt want to tell his family or friends as they would just laugh at him. While turning round once more he and thought he caught a glimpse of something, too big for a dog but too small for a human. He broke into a run and knew that his follower had done the same. He looked round and saw that his assailant was now making no effort to hide. The ground was being eaten up by this monster like creature that was pursuing him and he knew there was no hope. His screams for help filled the air but it was too late for there to be anyone out to hear him. He looked around for any means of protection and saw a stake with a note about the up-and-coming Easter egg hunt in the graveyard. Wrenching the stake from the ground, he turned to face his attacker; seeing how close the monster was too late. The creature was right at the end of the stake and as he collided with it, the stake went straight through his right shoulder. As Jake looked down at the victim that was now pinned to the ground by the stake he saw its coal-black cape, its milky-white fangs and his blond hair and blue eyes in the reflection off its pale white eyes. He started to run, as what he saw was a creature that he had thought only appeared in nightmares. It was a vampire! Â  As the sweat ran down his wrinkled face, the Prime Minister struggled to answer the last question concerning the rising number of murders in populated towns and cities. He knew that this new problem was going to be hard to solve and could cost him his job but he would do his best. He left the interview in a hurry, trying to get away from all the questions. As he finally got out the door, ignoring the crowd of reporters with their cameras flashing at him, his personal assistant rushed to his side and told him that he had urgent news from the Minister of Defence. He walked, wearily, but briskly, to his office and picked up the phone to his colleague. Prime Minister, I have urgent news regarding our current problem, he explained with a tone of graveness in his voice, We have video evidence of one of the creatures that are committing these assaults. Creatures? the Prime Minister asked, wondering if his colleague had made a mistake. Yes. We appear to have the first ever sighting of vampires in the world. I think we should try to get hold of one of them to question it. Yes, of course, please keep me informed of any more news that comes in, the Prime Minister stuttered incredulously, his face turning white at the thought of vampires on the loose. He knew that whatever it was that had to be done had to be done quickly, or else the whole population was in danger. The Minister of Defence had had a hard day. His phone had been ringing all day with enquiries from police stations all over the country. He was glad that he had finally found out the nature of the problem that the nation was facing. He knew that the Prime Minister was under extreme pressure but he was seriously losing faith in his ability to cope with this crisis. He was looking older every day, his good looks gone and his famous, lush brown hair was now grey and clearly thinning. The stress of his job was taking its toll and some of his recent decisions had been so questionable that the Press was having a field day. He knew that his doubts were shared, not only by the members of the Cabinet but by a large section of the population. As the phone started ringing once more, he cursed and picked it up knowing that it would be from another Police Officer in some part of the country asking for advice on what to do with another victim of an assault. That is why he was surprised by what was said.