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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.
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Friday, June 20, 2008
PA Agriculture Department Warns Consumers About Raw Milk Sold by York County Dairy
Comtex
HARRISBURG, Pa., June 20, 2008 /PRNewswire-USNewswire via COMTEX/ ----The Department of Agriculture is recommending that consumers who have purchased raw milk from Stump Acres Dairy farm in New Salem, York County, discard it immediately due to the risk of Listeria Monocytogenes contamination, Agriculture Secretary Dennis Wolff said today.
Raw milk is milk that has not been pasteurized or homogenized. Pennsylvania law allows farms to sell raw milk, but requires they obtain permits and be inspected to reduce health risks associated with the unpasteurized products.
In 2007, the Department of Agriculture revoked Stump Acres' permit after the Department of Health identified several individuals who had become sick after consuming raw milk from the dairy. State inspectors found that the dairy has begun selling raw milk again without a permit.
"During an investigation of the dairy, inspectors purchased raw milk which preliminary tests indicate may contain Listeria Monocytogenes," said Wolff. "If consumers have purchased raw milk from this farm, we advise they should discard it immediately."
Wolff recommended that any products made from the raw milk, including hard or soft cheeses, should also be discarded.
No illnesses have been reported as a result of the potential contamination, but if people who consumed the raw milk become ill, they should consult their physician.
Samples were taken from the farm on June 12, and preliminary tests showed the presence of Listeria Monocytogenes on June 20. Final test results will be available Monday, June 23.
Symptoms of Listeriosis are fever, muscle aches, and sometimes gastrointestinal symptoms such as nausea or diarrhea. If infection spreads to the nervous system, symptoms such as headache, stiff neck, confusion, loss of balance or convulsions can occur.
Infected pregnant women may experience only a mild, flu-like illness, but infections during pregnancy can lead to miscarriage or stillbirth.
Symptoms of Listeriosis can appear in four days to three weeks.
CONTACT: Chris L. Ryder
(717) 787-5085
SOURCE Pennsylvania Department of Agriculture
http://www.agriculture.state.pa.us
Copyright (C) 2008 PR Newswire. All rights reserved
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