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Whether you're walking a tightrope or scribbling in your checkbook, balance is a good thing. And, one of the best ways to evaluate a company is to glance at its balance sheet to see what it owns with what it owes.
The balance sheet is a paragon of simplicity and is made up of three components: assets (the stuff it owns), liabilities (the money it owes), and shareholders' equity (the company's value to its shareholders).
Assets take two forms: short-term (or current) assets and long-term assets. Under short-term, there¿s good ol' hard cash. Then, there¿s something called "cash equivalents," which are assets like short-term bonds that can be sold so quickly, they might as well be cash. There you factor in inventory, which (if you're a reasonably competent business owner) you can sell to customers in return for--you guessed it--cash. (The raw materials a company owns to make that inventory also falls under this category.)
Long-term assets are things that are harder to convert into cash. (Think real estate and equipment.) Long-term assets depreciate, meaning they lose some value over time. Also under the long-term category are what's called intangible assets: things like patents and brands, that are important, but hard to quantify. Accountants earn their stripes figuring out the real overall value of these assets.
Once you know your assets, it's time for liabilities. As with assets, liabilities are separated into short-term or current, and long-term. Current liabilities are what a company owes in that year: Things like payments to employees or accounts payable to suppliers. Long-term liabilities are debts paid over several years.
Shareholders' equity is determined by subtracting the liabilities from the assets. That number represents the value of the company after all its bills are paid.
Obviously, investors should pay close attention to balance sheets. Spikes in the amount of debt carried, or a reduction in shareholders' equity, are usually red flags.
Home / Markets / Industries / Health Care
Wednesday, May 07, 2008
A Statement from GlaxoSmithKline Consumer Healthcare on 2008 Update to the U.S. Public Health Service Guideline on Treating Tobacco Use and Dependence
Comtex
PARSIPPANY, N.J., May 7, 2008 /PRNewswire via COMTEX News Network/ ----GlaxoSmithKline (GSK) Consumer Healthcare, marketer of the leading smoking cessation products including Nicorette(R) gum, NicoDerm(R) CQ(R) patch, and Commit(R) lozenge, applauds the release of the updated 2008 U.S. Public Health Service (PHS) Guideline on Treating Tobacco Use and Dependence. Too many smokers lower their chances of quitting by relying on cold turkey approaches to become tobacco-free. The Guideline is an important validation of the need for clinicians to recommend the use of effective tobacco dependence counseling and medication. The Guideline reflects considerable progress in tobacco cessation research over the past decade to help identify the most effective strategies at reducing tobacco dependence.
We believe the 2008 update is of particular significance as it includes the addition of the Commit nicotine lozenge which can reliably increase long-term smoking abstinence. The Commit lozenge is approved by the U.S. Food and Drug Administration (FDA) to help withdrawal symptoms and cravings associated with quitting smoking, has a groundbreaking dosage selector (Time to First Cigarette) so a smoker can choose the strength that's right for them and provides low, safe doses of nicotine to ease withdrawal from cigarettes.
The updated Guideline reflects the distillation of thousands of research articles, and continues to recommend nicotine replacement products (NRT), such as Nicorette gum and NicoDerm CQ patch, as a first-line therapy for quitting, as they "increase significantly rates of long-term smoking abstinence."(1)
GlaxoSmithKline's NRT brands offer a step-down therapy to help smokers break their dependence on tobacco and safely wean off nicotine. Clinical trials have demonstrated that these brands double a smoker's chances of quitting versus placebo.(2) They are extensively proven to significantly reduce cravings and other withdrawal symptoms during quitting, allowing smokers to focus on behavior change. More than 110 clinical trials involving more than 40,000 participants and extensive consumer use over more than 20 years have proven the safety and efficacy of NRT when used as directed.(3)
Since becoming available without a prescription in 1996, GSK's NRT smoking cessation brands have helped millions of people around the world quit smoking and, as a result, have significantly reduced their exposure to the risks of cancer and other smoking-related diseases.(4)
GSK Consumer Healthcare offers smokers a variety of customized quit-smoking resources, including tools and information at http://www.Way2Quit.com, free proven tailored quit plans through http://www.CommittedQuitters.com and free access to GSK-certified stop-smoking counselors weekdays at 1-877-NO-ASHES where a smoker can develop an individualized support plan and receive customized tips from experts.
Quitting smoking is the most important step smokers can take to improve their health -- and it's also one of the most difficult. By developing innovative new products and support systems to improve the quit experience, GSK Consumer Healthcare is working to inspire and enable every smoker to quit.
(1) Fiore MC, Jaen CR, Baker TB, et al. Treating Tobacco Use and Dependence: 2008 Update. Clinical Practice Guideline. Rockville, MD.: U.S. Department of Health and Human Services. Public Health Service. May 2008. (2) Fiore MC, Bailey WC, Cohen SJ, et al. Treating Tobacco Use and Dependence. Clinical Practice Guideline. Rockville, MD. U.S. Department of Health and Human Services. Public Health Service. June 2000. (3) Stead LF, Perera R, Bullen C, Mant D, Lancaster T. Nicotine replacement therapy for smoking cessation. Cochrane Database of Systematic Reviews 2008, Issue 1. Art. No.: CD000146. DOI: 10.1002/14651858.CD000146.pub3. (4) Centers for Disease Control and Prevention. Use of FDA-approved pharmacologic treatments for tobacco dependence. Morbidity and Mortality Weekly Report 2000; 49: 665-668.
SOURCE GlaxoSmithKline Consumer Healthcare
http://www.Way2Quit.com
Copyright (C) 2008 PR Newswire. All rights reserved
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