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Key Theories and Effective Management Styles of Sports Direct : Assignment
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Sports Direct SWOT and Organisational Analysis
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Training and Development programs in organizations
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- Ulrich, D., 2013. Human resource champions: The next agenda for adding value and delivering results . Harvard Business Press.
- Wallop. H. 2015. The Secrets of Sports Direct review: along with cheap trainers, Sports Direct is also known for its giant mugs – the customers . [ONLINE] Available at: https://www.theguardian.com/tv-and-radio/2015/apr/28/the-secrets-of-sports-direct-review . [Accessed 29 March 2017].
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Brand Audit: Sports Direct
Sports Direct has succeeded despite its reputation for a poor shopping experience, relying on perceptions of value and consumers’ appetite for a good deal but it will need to find new ways to market its range if it wants to attract new customers and continue its recent growth.
Sports Direct’s stores are nothing if not distinctive. Cramming sporting kit next to jeans, cheap merchandise and even handbags, the retailer has made a brand out of its “pile ‘em high, sell ‘em cheap” strategy.
The stores might not look pretty but it’s a mix that works. Sales were up 23.5 per cent year on year in the 26 weeks to 27 October to £1.35bn.
Kelly Williams, director of consulting at sports marketing agency Sports Revolution, says: “Customers of Sports Direct accept the market stall environment as part of getting a good deal.”
This is also a retailer that isn’t afraid of bad publicity. It has fallen out with two of its biggest suppliers, most recently Adidas which is refusing to sell Chelsea and the Spanish national team’s kit in its stores and employs huge swathes of staff on zero-hour contracts.
‘Basic Retailing At Its Best’
Sports Direct’s success comes not from an innovative approach to shopping but an old fashioned one. It has beaten more established competitors such as Allsports and JJB Sports by offering a wide variety of products at heavily discounted prices, while at the same time acquiring brands such as Lillywhites, Donnay and Dunlop Slazenger that boost perceptions of value.
Phil Dorrell, director at retail consultancy Retail Remedy, says the strategy works because the poor in-store experience is not at odds with its pricing and discounting message.
“Sports Direct’s proposition is basic retailing at its best. It keeps things simple, is very aggressive and very driven. The acquisition of brands along the way, brands that had heritage and value in their own right, has meant that the discounts are on products that customers recognise. In this way they are unique and therefore unmatchable,” he adds.
That’s doesn’t mean customers have a good perception of the brand, however. In a list of 30 high street retailers on YouGov’s BrandIndex, Sports Direct sits in the bottom five for metrics including quality, reputation and impression.
Its Index rating is 3.8, putting it in 24th place, while its buzz rating, a measure of the positive and negative things said about the brand, is 0.1, again placing it just six places from the bottom.
Signs Of Change
So far Sports Direct appears to have succeeded despite its bad reputation but while thousands of shoppers are lured in for the low prices, thousands more are put off by the budget experience and it will need to appeal to these people to drive growth over the next few years.
The management knows that and changes are already coming in. Sports Direct is improving the look and feel of stores by introducing “worlds” – areas dedicated to specific pursuits – and updating its merchandising execution to offer “good”, “better”, “best” propositions.
It has also invested in staff training and introduced a generous share scheme for full-time staff. Oriel Securities analyst Jonathan Pritchard says this has helped reduce staff turnover from 35 per cent to 17 per cent.
“Staff’s product knowledge is crucial. As Sports Direct tries to gain increasing share at the ‘best’ end of the range it is crucial that experienced sportspeople and walkers/hikers/climbers are available to offer advice,” he adds.
Widening distribution is also seen as a key way to maintaining sales growth. Sports Direct is investing in ecommerce, recently introducing click and collect services and with plans to double its online range to around 360,000, as well as investing in international growth, opening stores across Europe.
The retailer is also thought to be looking at ways to deliver some of its brands into more high-end stores. Sports Directly recently bought a 4.6 per cent stake in Debenhams that many analysts saw as a way of brokering talks with the department store chain and getting its brand into Debenhams stores.
It has now sold that stake as part of an unusual derivative arrangement but discussions between the two companies still went ahead last week. Reports suggest Sports Direct is keen to launch more celebrity-sponsored sportswear ranges into Debenhams after the success of its collaboration with Olympic rower James Cracknell that will help add gravitas to its ranges.
Despite the changes, don’t expect the marketing message to change. Sports Direct wants to expand its audience, but it doesn’t want to do so at the expense of its core customer by making the brand feel like its more expensive.
“There is a concern that by trying to take the stores a shade upmarket it will alienate the core customer. Management will continue to use advertising, aggressive sales and the web to ensure this perception does not gain traction,” says Pritchard.
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Mike Ashley’s Sports Direct is the UK’s largest sports goods retailer, operating around 950 stores worldwide with 600 in the UK. Founded in 1982, Sports Direct has grown into a multi-retailer company that owns everything from department stores House of Fraser and Flannels to preppy fashion brand Jack Wills and computer game retailer Game. It also owns sports brands such as Karrimor, Kangol, Slazenger and Lonsdale. Sports Direct has set itself a goal to transform the business into the “Selfridges of sport”, developing new generation stores to showcase the best products and improve customer experience. The retailer is also currently undergoing a store rationalisation programme in the UK, closing smaller stores and relocating to larger flagships, which will see the total number of stores decrease but selling space increase. In November 2019, Sports Direct announced it will rebrand to Frasers Group.
Latest news and insight on Sports Direct from Retail-Week.com
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Sports Direct International Plc PESTEL Analysis
Posted by Zander Henry on Aug-22-2018
PESTEL analysis is a widely used strategic planning and management tool. It is an acronym for political, economic, social, technological, environmental and legal factors that shape the macro business environment. Sports Direct International Plc. operates in a complex and dynamic environment characterized by regulatory changes, growing environmental activism, collective social trends, technological changes and evolving legal system.
2 Application of PESTEL to Sports Direct International Plc.
The application of PESTEL analysis can help Sports Direct International Plc. identify the major external environmental forces that shape the strategy and competitive landscape and support its strategic decision making process. As Sports Direct International Plc. looks to expand and leverage its competencies and core capabilities, conducting the PESTEL analysis is imperative for developing effective strategies and achieving long-term growth objectives.
2.1 Political factors
2.1.1 importance of political factors in the pestel framework.
Within PESTEL analysis, political factors exert a strong influence on the long-term sustainability and profitability of Sports Direct International Plc. The presence at international stage increases the company’s sensitivity to changes in political environments of different countries. In a political context, the key to success in a dynamic international business environment is to diversify the systematic risks. The political environment of a country comprises multifaceted factors. Sports Direct International Plc. needs to consider the following political factors during the strategic planning process:
2.1.2 Political factors that influence Sports Direct International Plc.
126.96.36.199 political stability.
High political stability provides a stable and friendly business environment with predictable market growth trends. However, when there is political chaos, it deters the investors and harms the stakeholders' trust in economic and consequent organizational performance. Currently, Sports Direct International Plc. is present in different countries, each having own political tensions. Growing tensions and instabilities in the global political environment can affect the Gold industry growth and limit the growth opportunities available to Sports Direct International Plc.
188.8.131.52 Changing policies
Frequent changes in government policies harm business performance by increasing environmental uncertainty. It is important for Sports Direct International Plc. to study the current trends in the country's political scenario as changes in government may alter the government's priorities towards the development of different industries.
184.108.40.206 Protests/pressure groups and governance system
Sports Direct International Plc. should carefully analyze the protests by pressure groups, social/environment activists and worker unions as such protests play an important role in the policy making process. Close collaboration with such groups may enhance the Sports Direct International Plc.’s ability to collaborate with community and achieve long-term corporate goals. Moreover, a well-developed governance system with a democratic political environment makes the business environment more comfortable for international business organizations like Sports Direct International Plc.
220.127.116.11 Bureaucracy and corruption
Bureaucracy and corruption negatively influence the business environment. Operating in countries with high corruption level and weak law enforcement makes the business environment increasingly unpredictable for Sports Direct International Plc. due to jeopardized public trust on business organizations and overall political and economic structure. The corruption can influence various business operations, ranging from licensing, contracting, fraudulent deals to frequent lawsuits. If Sports Direct International Plc. decides to enter in markets with the corrupt economic, political system, it will threaten the organization's sustainable development by destabilizing the society, harming justice system and endangering the rule of law.
18.104.22.168 Taxation, trade restrictions and intellectual property protection
Entering in countries with high taxation level will directly influence the profitability of Sports Direct International Plc. High taxation affects international trade and prevents exports. Sports Direct International Plc. can enter in low taxation markets and benefit from high profits that can be invested in research and development activities. The organization may also study the industry specific taxation policies to understand the host government's priorities and interest in developing industries. Similarly, high trade restrictions can make the business environment more complex by affecting the exports and harming relationships with foreign trade partners. Moreover, if the government of the country under consideration is not serious about protecting the intellectual property rights of business organizations, it will deter the entrepreneurs from investing in organizations due to high risk of ideas being stolen. Hence, Sports Direct International Plc. should study how intellectual property rights are protected in the host country and make the business strategies accordingly.
2.2 Economic factors
2.2.1 importance of economic factors in the pestel framework.
It is important for Sports Direct International Plc. to understand economic factors such as foreign exchange/interest rate, labor market conditions, inflation and saving rates etc. as they determine the overall economic environment of the country. A detailed understanding of the economic environment can help Sports Direct International Plc. estimate the growth trajectory of industry and organization. Following economic factors need to be considered by Sports Direct International Plc. to make informed decisions:
2.2.2 Economic factors that influence Sports Direct International Plc.
22.214.171.124 economic/business cycle stage.
The economic development of a country directly influences organizational performance. Growing economies offer wide-ranging growth opportunities to the Sports Direct International Plc. Similarly, it is important to understand the industry lifecycle stage. Entering in mature industries can be more challenging due to market saturation than industries at the growth stage. Moreover, the business performance of Sports Direct International Plc. is also influenced by the extent to which the host country government has spent on core infrastructure development. A well-developed infrastructure facilitates the business environment and increases the growth potential of the gold industry in the respective country.
126.96.36.199 Inflation/employment/interest/exchange rates
The GDP growth rate will determine the Sports Direct International Plc.’s ability to pursue its long-term growth strategies. High GDP also signals the consumers’ ability to spend more on offered products. High unemployment signals the availability of surplus labor at comparatively lower wages. Operating in such a market can lower the production cost of Sports Direct International Plc. The organization should also carefully consider the interest rate and its influence on borrowing ability and attitude towards investment. The high interest rate will encourage the attitude towards investment and increase growth opportunities for Sports Direct International Plc. Finally, the exchange rate fluctuation can also influence the profitability and international trade. The high fluctuation on local currency can be a cause of serious concern for Sports Direct International Plc.
188.8.131.52 Labor market conditions
The demand and supply of labor determine the wage rates and supply of skilled workforce. Sports Direct International Plc. must study and predict the labor market conditions to understand how it can attract talented workers and leverage their skills to improve business performance. When labor markets are flexible, Sports Direct International Plc. can take advantage of higher labor productivity. Whereas, operating in rigid labor markets may cause labor wage and other issues raised by powerful labor unions. Sports Direct International Plc. should also carefully analyze the availability of skilled human capital as a shortage of skilled labor can affect business efficiency and make talent attraction and retention more challenging.
184.108.40.206 Financial markets efficiency
The global expansion strategies of the Sports Direct International Plc. are influenced by the financial market efficiency as operating in highly efficient financial markets leads towards improved liquidity position and strengthened ability to enter new markets. The health and efficiency of financial markets will determine Sports Direct International Plc.’s ability to raise the capital at fair prices.
220.127.116.11 Economic structure
The business practices of the Sports Direct International Plc. are influenced by the prevailing economic structure. The economic and regulatory environment in a monopolistic or oligopolistic structure will be different from the monopolistic competition and perfect competition.
2.3 Social factors
2.3.1 importance of social factors in the pestel framework.
Organizational culture derives strong influence from the societal norms, values and trends. Understanding the demographic trends, power structures, consumers’ spending patterns and shared beliefs can help Sports Direct International Plc. design effective marketing messages and fulfil corporate objectives through informed PESTEL analysis. The marketing department of Sports Direct International Plc. can use the information retrieved from social, environmental analysis to target the consumer groups and increase the appeal of offered products to potential buyers. Sports Direct International Plc. must consider the following social factors to conduct macro-environmental analysis:
2.3.2 Social factors that influence Sports Direct International Plc.
18.104.22.168 demographic trends.
Changes in demographic patterns like aging population, migration trends and socio-economic variables have paramount importance for international business organizations like Sports Direct International Plc. Studying the demographic characteristics can help Sports Direct International Plc. in choosing the right market segment/segments with high growth potential. The business and marketing strategies are also influenced by migration. It is important for Sports Direct International Plc. to understand the people’s general attitude towards migration as it can influence firms’ ability to bring international managers to host country.
22.214.171.124 Equality and power distance
The power distance within any society shows the acceptance of hierarchy and income inequality. Sports Direct International Plc. must adjust its business management practices while entering in markets with high or low power distance. The growing inequality in many countries is altering the power structure, which has serious implications for international business organizations like Sports Direct International Plc.
126.96.36.199 Gender Roles
Sports Direct International Plc. need to study the traditionally assigned gender roles to align its marketing and communication practices accordingly. Marketing and human resource strategies in a traditional, patriarchal society with clearly distinguished gender roles will be different from societies with low gender stereotypes.
188.8.131.52 Societal norms and class distribution
Culture is considered an important variable by international marketing managers. Each society has distinctive norms and values that play an important role in shaping consumer behavior. Sports Direct International Plc. should develop local teams and develop local partnerships for understanding the societal attitudes and norms to tailor marketing strategies according to unique cultural context. The observation of social class stratification is also important for Sports Direct International Plc. Offering luxury products at premium prices to a market where the high-end market is considerably small in number will require Sports Direct International Plc. to adopt the niche marketing strategies. Similarly, market segmentation based on social class may be ineffective where social class stratification is low.
184.108.40.206 Online shopping
The advent of social media and e-commerce has encouraged online shopping behavior among customers. Sports Direct International Plc. needs to understand the online shopping behavior by considering the generational differences as younger consumers are more inclined to shop online than older customers. The growing use of mobile phones and social networking sites must be considered when developing marketing and communication strategies.
220.127.116.11 Spending patterns and behavior
The consumers’ spending patterns are influenced by their purchasing power of money. Studying and forecasting the consumers’ purchasing power based on relevant economic indicators is important to analyze the customers’ interests and spending patterns. In some societies, consuming the offered product is considered a status symbol, while, some people use the same products for functional aspects. Sports Direct International Plc. should invest time on understanding the consumption motivations and social trends that define the consumption behavior. Sports Direct International Plc. should also attempt to understand the degree of consumer ethnocentrism and consider the country of origin effect to determine local consumers’ evaluation of foreign products. Lastly, Sports Direct International Plc. should study the consumers’ leisure interests and should focus more on enhancing the customer experience if customers prefer experiential products over traditional product offerings.
2.4 Technological factors
2.4.1 importance of technological factors in the pestel framework.
‘Technology' is the fourth factor of PESTEL analysis. The rapid technological advancement and technological diffusion across the globe have increased the importance of understanding technological factors during the strategic decision making process. A detailed analysis of the technological environment can help Sports Direct International Plc. capture the technological trends to achieve certain business advantages, such as- increasing profitability, boosting innovation process and enhancing the operational efficiency. Following technological factors can influence the business performance of Sports Direct International Plc.:
2.4.2 Technological factors that influence Sports Direct International Plc.
18.104.22.168 social media marketing.
The development of information and communication technologies has led towards the adoption of innovative marketing techniques to enhance collaboration with customers. Use of social media has become common in a modern business environment. Sports Direct International Plc. can leverage the opportunities offered by social media marketing to improve business performance. Technological trends can be used to start the creative social media campaigns for developing online brand communities.
22.214.171.124 Technological innovations and development level
Sports Direct International Plc. should carefully consider the on-going technological innovations to stay ahead of the competition. A close eye should be kept on analyzing the 5G and determining its potential to deliver positive business outcomes through enhanced user experience, increased speed and expanded access. Technological innovations like this can bring major transformations in the industry and reset the success rules for market players. Moreover, considering the development and maturity level of technology in the respective market is also important. Entering in markets where technological advancement has not reached the maturity means Sports Direct International Plc. can increase the market share by focusing on emerging technological innovations.
126.96.36.199 Research and development on technology and impact on cost structure/value chain
Sports Direct International Plc. needs to consider the investments made by competitors on a micro and macro level to understand how new technologies influence the firm’s value chain and prevailing cost structure. Research and development activities are highly important in an environment characterized by creative disruption. In such an environment, Sports Direct International Plc. should invest in disruptive technologies to maximize the profits and re-invest the profits for future disruptive technologies.
188.8.131.52 Shortened product life cycles
The adoption of new technologies has shortened the lifecycle of new product development. Today, new products are developed quickly, and supply chain partners have also gained more power. It pressurizes the Sports Direct International Plc. to develop new products quickly, increase product range diversity, integrate flexibility into the value chain and develop healthy business relationships with value chain partners.
2.5 Environmental factors
2.5.1 importance of environmental factors in the pestel framework.
The growing environmental consciousness and changing climatic conditions have made ‘environmental analysis’ an important part of the PESTEL analysis. The environmental standards, laws and regulations vary across different markets. The international presence of Sports Direct International Plc. require the organization to consider these differences to avoid undesired circumstances carefully. Detailed environmental analysis is imperative before deciding to enter a new market or start a new product line. Some examples of environmental factors that Sports Direct International Plc. need to consider are given below.
2.5.2 Environmental factors that influence Sports Direct International Plc.
184.108.40.206 recycling and waste management.
The growing environmental pollution coupled with technological advancement has compelled business organizations to adopt innovative recycling and waste management practices. In some countries, recycling has almost become a business norm. Moreover, adopting efficient waste management practices in organizational units that are located in or near urban areas is highly crucial for Sports Direct International Plc. Many countries have placed strict norms to protect their urban areas through effective waste management.
220.127.116.11 Renewable technologies
Some countries offer subsidies for encouraging investment in renewable technologies. Sports Direct International Plc. can benefit from it and invest in renewable technologies to ensure long-term sustainability. This investment will also increase stakeholder satisfaction and expand the customer base due to enhanced brand image.
18.104.22.168 Weather and climatic conditions
Changes in weather and climatic conditions can influence business efficiency. For instance, extreme weather conditions can increase the cost of operations and compel the Sports Direct International Plc. to make the value chain more flexible. Such changes can also influence the consumers' spending patterns, causing the organization to revise its product and marketing strategies.
22.214.171.124 Attitude towards eco-friendly products
There is a growing trend towards the use of green/eco-friendly products. Sports Direct International Plc. can take it as an opportunity and adopt green business practices to win the trust of stakeholders. Regulatory bodies’ emphasis on ensuring compliance with environmental norms is altering the product innovation priorities. It requires Sports Direct International Plc. to prioritize and focus on marketing the eco-friendly nature of their products over customary value propositions.
126.96.36.199 Environmental regulations to avoid resource depletion
Excessive resource depletion by Sports Direct International Plc. can draw the negative response from media, environment protection groups, customers and the general public. Sports Direct International Plc. must study the specific environmental regulations of the country under consideration to understand which resources (like water, electricity etc.) are considered rare or which species are endangered whose excessive consumption can cause trouble for the organization.
2.6 Legal factors
2.6.1 importance of legal factors in the pestel framework.
“Legal” is the sixth factor of PESTEL analysis. Sports Direct International Plc. cannot enter a new market without studying in detail the legal environment and regulatory structure of the new consumer market. A careful evaluation of legal aspects is required to avoid getting into some serious trouble. Ignorance in this regard can cause undesired circumstances for Sports Direct International Plc., such as- hurting competitive advantage as a result of intellectual property rights violation and harmed organizational image due to violation of consumer/employee/environment protection standards. Sports Direct International Plc. should consider the following legal factors when exploring a new market.
2.6.2 Legal factors that influence Sports Direct International Plc.
188.8.131.52 employee protection laws (discrimination and health and safety).
Sports Direct International Plc. must follow the employee/labor health and safety laws as some countries have strict regulations to ensure labor safety. Providing a secure work environment for the workforce is the ethical and moral obligation of Sports Direct International Plc. Similarly, anti-discrimination laws (like equal employment opportunity) also need to be carefully studied when developing human resource practices as discriminatory suits against employer harm the organizational image and affect organizations’ ability to attract and retain the talent.
184.108.40.206 Consumer protection laws
The data protection has become an important issue due to consumers’ privacy and security concerns. Sports Direct International Plc. need to study data protection regulations to protect the customer data. Moreover, there are laws to set the maximum price, ensure a certain quality standard and protect consumers from fraudulent marketing claims. Sports Direct International Plc. must consider these factors to ensure compliance with consumer protection laws.
220.127.116.11 Intellectual property laws
Intellectual property regulations are designed to protect the companies' patents and valuable ideas. Inability to protect intellectual property rights can result in losing competitive advantage, which may weaken the positioning of Sports Direct International Plc. against other market players.
3 Concluding statement
To conclude, the PESTEL model is an important business tool that involves a detailed analysis of macro-environmental factors that shape the business environment. Ranging from political factors to environmental factors, each factor comprises various variables that influence the strategic decision making process of business organizations like Sports Direct International Plc.
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Daidj, N. (Ed.). (2014). Developing strategic business models and competitive advantage in the digital sector. IGI Global.
Grünig, R., & Morschett, D. (2017). Developing international strategies. Springer Berlin Heidelberg.
Hou, J., Lu, Q., & Han, Y. (2008, December). A strategic framework for technology evaluation. In 2008 International Conference on Information Management, Innovation Management and Industrial Engineering (Vol. 1, pp. 24-27). IEEE.
Issa, T., Chang, V., & Issa, T. (2010). Sustainable business strategies and PESTEL framework. GSTF International Journal on Computing, 1(1), 73-80.
Johnson, G., Whittington, R., Scholes, K., Angwin, D., & Regnér, P. (2011). Exploring strategy. Financial Times Prentice Hall.
Leyva, M., Hechavarria, J., Batista, N., Alarcon, J. A., & Gomez, o. (2018). A framework for PEST analysis based on fuzzy decision maps. Revista ESPACIOS, 39(16).
Wall, S., Minocha, S., & Rees, B. (2009). International business. Pearson Education.
Yüksel, I. (2012). Developing a multi-criteria decision making model for PESTEL analysis. International Journal of Business and Management, 7(24), 52.
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Accounting for Direct Assignment under Indian Accounting Standards (Ind AS)
By Team IFRS & Valuation Services ( [email protected] ) ([email protected])
Direct assignment (DA) is a very popular way of achieving liquidity needs of an entity. With the motives of achieving off- balance sheet treatment accompanied by low cost of raising funds, financial sector entities enter into securitisation and direct assignment transactions involving sale of their loan portfolios. DA in the context of Indian securitisation practices involves sale of loan portfolios without the involvement of a special purpose vehicle, unlike securitisation, where setting up of an SPV is an imperative.
The term DA is unique to India, that is, only in Indian context we use the term DA for assignment of loan or lease portfolios to another entity like bank. Whereas, on a global level, a similar arrangements are known by various other names like loan sale, whole-loan sales or loan portfolio sale.
In India, the regulatory framework governing Das and securitisation transactions are laid down by the Reserve Bank of India (RBI). The guidelines for governing securitisation structures, often referred to as pass-through certificates route (PTCs) were issued for the first time in 2006, where the focus of the Guidelines was restricted to securitisation transactions only and direct assignments were nowhere in the picture. The RBI Guidelines were revised in 2012 to include provisions relating to direct assignment transactions.
Until the introduction of Indian Accounting Standards (Ind AS), there was no specific guidance regarding the accounting of direct assignment transactions, therefore, a large part of the accounting was done is accordance with the RBI Guidelines. The introduction of Ind ASes have opened up several new challenges for the financial entities.
Following issues are relevant:
- Whether DA would lead to de-recogntion?
- Whether there will be a gain on sale upon such de-recognition?
- Whether DA should be be treated as a partial transfer of asset or transfer of the whole asset?
- Continuing valuation of retained interest?
In this article, we intend to discuss those issues and suggest potential solutions for those as well.
Prior to addressing the above issues, the following is a comparison between DA and securitisation for a better understanding:
De recognition in case of Direct Assignment
Ind AS 109, provides a clear guidance as to the de recognition principles to be followed. Para 3.2.2 says that:
“3.2.2 Before evaluating whether, and to what extent, derecognition is appropriate under paragraphs 3.2.3–3.2.9, an entity determines whether those paragraphs should be applied to a part of a financial asset (or a part of a group of similar financial assets) or a financial asset (or a group of similar financial assets) in its entirety, as follows.
(a) Paragraphs 3.2.3–3.2.9 are applied to a part of a financial asset (or a part of a group of similar financial assets) if, and only if, the part being considered for derecognition meets one of the following three conditions.
(i) The part comprises only specifically identified cash flows from a financial asset (or a group of similar financial assets). For example, when an entity enters into an interest rate strip whereby the counterparty obtains the right to the interest cash flows, but not the principal cash flows from a debt instrument, paragraphs 3.2.3–3.2.9 are applied to the interest cash flows.
(ii) The part comprises only a fully proportionate (pro rata) share of the cash flows from a financial asset (or a group of similar financial assets). For example, when an entity enters into an arrangement whereby the counterparty obtains the rights to a 90 per cent share of all cash flows of a debt instrument, paragraphs 3.2.3–3.2.9 are applied to 90 per cent of those cash flows. If there is more than one counterparty, each counterparty is not required to have a proportionate share of the cash flows provided that the transferring entity has a fully proportionate share.
(iii) The part comprises only a fully proportionate (pro rata) share of specifically identified cash flows from a financial asset (or a group of similar financial assets). For example, when an entity enters into an arrangement whereby the counterparty obtains the rights to a 90 per cent share of interest cash flows from a financial asset, paragraphs 3.2.3–3.2.9 are applied to 90 per cent of those interest cash flows. If there is more than one counterparty, each counterparty is not required to have a proportionate share of the specifically identified cash flows provided that the transferring entity has a fully proportionate share.
(b) In all other cases, paragraphs 3.2.3–3.2.9 are applied to the financial asset in its entirety (or to the group of similar financial assets in their entirety). For example, when an entity transfers (i) the rights to the first or the last 90 per cent of cash collections from a financial asset (or a group of financial assets), or (ii) the rights to 90 per cent of the cash flows from a group of receivables, but provides a guarantee to compensate the buyer for any credit losses up to 8 per cent of the principal amount of the receivables, paragraphs 3.2.3–3.2.9 are applied to the financial asset (or a group of similar financial assets) in its entirety.”
If the de recognition criteria is not met in entirety, then all the conditions mentioned in para 3.2.2(a) has to be satisfied, which talks about fully proportionate share of total cash flows from the financial asset and fully proportionate share of specifically identified cash flows of the financial asset. If these conditions are met, then partial de recognition is possible. The part that is still recognized, is not connected with de recognition and further accounting related to de recognition. However, for actually de recognizing the asset, the de recognition criteria in para 3.2.3 and para 3.2.6 has to be looked at.
Para 3.2.3 goes as follows:
“3.2.3 An entity shall derecognise a financial asset when, and only when:
(a) the contractual rights to the cash flows from the financial asset expire, or
(b) it transfers the financial asset as set out in paragraphs 3.2.4 and 3.2.5 and the transfer qualifies for derecognition in accordance with paragraph 3.2.6.”
Thus, if the contractual rights to the cashflows expire, then the asset can be de-recognized. If the condition is not met, then it has to be seen that whether the asset is transferred as per para 3.2.5 and the transfer meets the de recognition conditions set out para 3.2.6.
Para 3.2.6 states that:
“3.2.6 When an entity transfers a financial asset (see paragraph 3.2.4), it shall evaluate the extent to which it retains the risks and rewards of ownership of the financial asset. In this case:
(a) if the entity transfers substantially all the risks and rewards of ownership of the financial asset, the entity shall derecognise the financial asset and recognise separately as assets or liabilities any rights and obligations created or retained in the transfer.
(b) if the entity retains substantially all the risks and rewards of ownership of the financial asset, the entity shall continue to recognise the financial asset.
(c) if the entity neither transfers nor retains substantially all the risks and rewards of ownership of the financial asset, the entity shall determine whether it has retained control of the financial asset. In this case:
(i) if the entity has not retained control, it shall derecognise the financial asset and recognise separately as assets or liabilities any rights and obligations created or retained in the transfer.
(ii) if the entity has retained control, it shall continue to recognise the financial asset to the extent of its continuing involvement in the financial asset (see paragraph 3.2.16).”
Para 3.2.6 brings out that, if all the risks and rewards of ownership of financial asset is transferred, then the asset shall be de recognized. If the risks and rewards incidental to ownership of financial asset is not transferred, then obviously the asset cannot be de recognized. However, if there is a partial transfer of risks and rewards of ownership, then the surrender of control has to be evaluated. If there is surrender of control, then the asset can be de recognized. If not, there shall be partial de-recognition, that is, the asset shall be recognized in the books of the seller only to the extent of continuing involvement.
Computation of Gain on Sale
It is a general notion that a sale results in a gain or loss, be it arbitrary or anticipated, the same is required to be accounted for. In case of a direct assignment, there is a sale of the loan portfolios, however, the same completely depends upon whether the assigned loan portfolio is getting derecognised from the books of the assignor or not. If it is not derecognised from the books of the assignor, then the question of recognising a gain or loss on sale does not arise. However, if the sale qualifies for de-recognition, then the seller must book gain or loss on sale in the year of sale.
Upon reading of Ind AS 109 and study of example stated in application guidance in para B3.2.17, the way of computing the same can be derived as follows:
Gain on sale = Sale consideration – Carrying value of asset*Fair value of transferred portion/(Fair value of transferred portion + Fair value of retained portion)
This can be explained with the help of the following example:
The gain or loss on sale does not depend on the sale consideration completely. There may be cases where the carrying value of the transaction and sale consideration are same, i.e. at par transactions. As per Ind AS 109, the computation of gain on sale remains same in cases of at-par or premium structured transactions, however, even at-par transactions could lead to a gain or loss on sale..
The reason for same is that the computation of gain on sale takes into account the retained interest by the Assignor comprising of the difference between the interest on the loan portfolio and the applicable rate at which the direct assignment is entered into with the assignee, also known as the right of excess interest spread (EIS) sweep.
The above settles for the computation of the gain/loss, however, the bigger change seen in the present regime is on the part of recognition of such a gain in the books of the Assignor.
In the present scenario, Ind AS 109 prescribes that the gain on sale or de recognition be recorded upfront in the profit and loss statement.
For reference, para 3.2.12 states that:
“ 3.2.12 On derecognition of a financial asset in its entirety, the difference between:
(a) the carrying amount (measured at the date of derecognition) and
(b) the consideration received (including any new asset obtained less any new liability assumed) shall be recognised in profit or loss.”
Further in case of de recognition of a part of financial asset, para 3.2.13 states that:
“3.2.13 If the transferred asset is part of a larger financial asset (eg when an entity transfers interest cash flows that are part of a debt instrument, see paragraph 3.2.2(a)) and the part transferred qualifies for derecognition in its entirety, the previous carrying amount of the larger financial asset shall be allocated between the part that continues to be recognised and the part that is derecognised, on the basis of the relative fair values of those parts on the date of the transfer. For this purpose, a retained servicing asset shall be treated as a part that continues to be recognised. The difference between:
(a) the carrying amount (measured at the date of derecognition) allocated to the part derecognised and
(b) the consideration received for the part derecognised (including any new asset obtained less any new liability assumed) shall be recognised in profit or loss.”
Hence, it is clear that the gain on de recognition should be recorded in the profit and loss statement.
From a practical standpoint, the above recognition is seen as a demotivation for entering into a direct assignment transaction, since the same would result in a volatility or irregularity in the profit or loss statement of the NBFCs.
This approach is in stark contrast to what has been prescribed in the RBI Guidelines on Securitisation, which requires gain on sale to be amortised over the life of the transaction. As per the RBI Guidelines provide the following:
As per para 20.1 of RBI Guidelines on Securitisation of Standard Assets issued in 2006:
“In terms of these guidelines banks can sell assets to SPV only on cash basis and the sale consideration should be received not later than the transfer of the asset to the SPV. Hence, any loss arising on account of the sale should be accounted accordingly and reflected in the Profit & Loss account for the period during which the sale is effected and any profit/premium arising on account of sale should be amortised over the life of the securities issued or to be issued by the SPV. ”
Also, as per para 1.4.1. of RBI Guidelines on Securitisation of Standard Assets issued in 2012:
“The amount of profit in cash on direct sale of loans may be held under an accounting head styled as “Cash Profit on Loan Transfer Transactions Pending Recognition” maintained on individual transaction basis and amortised over the life of the transaction .”
As the accounting treatment offered by Ind AS defaces the profit and loss statement by distorting the income recognition pattern of the NBFCs, NBFCs are not in favour of recording this gain upfront. The concern is aggravated due to the liquidity crunch currently faced by the NBFCs caused by recent downfall of IL&FS. The default on payment obligations of loans and deposits amounting to approximately Rs. 90,000 crore, by India’s leading infrastructure finance company, shook the confidence of the lenders and triggered a panic sentiment amongst the market lenders including NBFCs. As a result of the panic, banks are unwilling to lend to the NBFCs and their cost of funds are going up. However, the banks are showing interest in acquiring their loan portfolios instead. Therefore, the NBFCs are somewhat being forced to accept this distortion in their profit or loss statement.
Another question that arises is- whether de-recognition in books of assignor affects recognition in the books of the assignee.
As per para 3.1.1 of Ind AS 109, an entity shall recognise a financial asset or a financial liability in its balance sheet when, and only when, the entity becomes party to the contractual provisions of the instrument. Therefore, the transferee should recognise the financial asset or financial liability in its balance sheet only when he becomes a party to the contractual provisions of the instrument.
Para B3.2.15 of the same standard, provides that if a transfer of a financial asset does not qualify for de-recognition, the transferee does not recognise the transferred asset as its asset. In such a case the transferee is required to derecognise the cash or other consideration paid and recognises a receivable from the transferor. The transferee may measure the receivable at amortised cost (if it meets the criteria in paragraph 4.1.2) if the transferor has both a right and an obligation to reacquire control of the entire transferred asset for a fixed amount (such as under a repurchase agreement).
Therefore, de-recognition from the books of the seller is clearly a determinant for recognition in the books of the buyer.
Impact on GST on the gain on sale
In the last couple of years, if there is anything that has bothered the financial entities in India, other than IndAS, then it has to be GST. Therefore, it becomes pertinent to take a look at whether GST will become applicable in any manner whatsoever.
Under GST regime, assignment of loans are treated as dealing in securities and are therefore exempted from GST. Link to our detailed writeup in this regard has been provided in the footnote  .
Reporting of Retained Interests
A partial de-recognition is where the transferor transfers only a part of the asset and retains a part of it.
Currently, as per the RBI Guidelines, NBFCs are required to comply with the minimum retention requirement of 10%, that is, they should have a continuing interest of 10% on the loans that it intends to transfer. Therefore, if an NBFC is intending to sell of a portfolio of Rs. 100 crores, it has to retain at least 10% of the said portfolio and can sell of only Rs. 90 crores representing the remaining part.
Therefore, this becomes a classic case of partial de-recognition.
The value of retained interest should be accounted for as per the original accounting criteria as and when it was originated. For instance, if the pool recognised under FVOCI method, the retained interst must continue to be valued at FVOCI.
The manner of recognition or valuation of the retained interest will not change when a part of the pool is sold off.
Before the introduction of Indian Accounting Standards, RBI guidelines were followed for de recognizing the asset and recording the gain on sale after de recognition. There was no accounting guidance for financial instruments and their de recognition. In the absence of it, RBI guidelines were followed which talked about true sale. In case, the conditions of true sale were satisfied, then the asset was de recognized and the gain was regularised over the period by amortising the gain on de recognition.
While a well-documented piece of legislation is welcomed, however, every new thing has some shortcomings. In this case, the irregularities in the profit and loss and the complexities surrounding the de-recognition test comes as shortcomings. However, it is expected, with the passage of time, these shortcomings will also be settled.
Can the Originator recognise a lower upfront income by giving impact of historical pre-terminations while discounting the future cash flows? This will reduce the impact of irregular upfront income to some extent.
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Sports Direct rated lowest in customer satisfaction survey
- Published 2 May 2021
Sports Direct has finished bottom in a consumer survey of the best places to buy outdoor and sporting equipment.
The retailer, owned by Mike Ashley's Frasers Group, was criticised for its after sales service, product guarantees and Covid-19 response.
The Which? survey of 10,000 shoppers placed retailer Rohan top, followed by Sweaty Betty then Cotswold Outdoors.
Sports Direct said it was investing "significant sums into improving the customer journey."
The shop chain said this showed in its current rating of 3.8 on consumer review website Trust Pilot.
"We value our customers' opinions," it added.
Consumer group Which? asked shoppers - both members and the general public - to rate their experiences with the UK's biggest and best-known retailers on a variety of factors.
These included product range and quality, customer service, in-store and online experience, value for money, after sales service and stores' response to the Covid-19 crisis.
Sports Direct propped up the list of 29 retailers with a dissatisfaction score of 65%, with shoppers giving it only two stars for after sales service and its guarantees.
Also at the bottom were Costco and Littlewoods, with scores of 67% each. Littlewoods declined to comment on the survey, and Costco could not be reached for a response.
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Sports Direct owner warns of store closure risk
Sports Direct only received two stars for its Covid-19 response, where shoppers were asked to rate stores and websites on how well they communicated pandemic-related changes such as queuing systems, social distancing, and delivery delays.
Which? said several respondents commented positively on the range of products available at Sports Direct, but the retailer received only three stars overall. Some customers singled out the retailer for having a bad returns policy.
At the other end of the list, the highest-rated shop was outdoor and travel clothing retailer Rohan, with an 87% positive score. The retailer was singled out for quality, staff helpfulness, and its guarantee.
Women's workout wear retailer Sweaty Betty came in a close second with an 82% rating, followed by Cotswold Outdoors with 79%.
Ele Clark, Which? money and shopping editor, said: "Sports and outdoor equipment doesn't always come cheap, so shoppers need to be able to trust that the retailer they choose will offer both great customer service and competitive value for money.
"As we emerge from lockdown, anyone looking to buy new kit should consider how a store treats its customers, not only at the point of purchase but also if something goes wrong further down the line."
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2023 World Baseball Classic: Schedule, dates, TV channel, WBC scores, times as Team USA faces Canada
The world baseball classic is back after a six-year hiatus; team usa in action again monday night.
The 2023 World Baseball Classic is in full swing. Team USA faces Canada on Monday night after falling against Mexico on Sunday. Monday also saw some WBC history as Puerto Rico threw the first perfect game in the tournament's history. Puerto Rico blanked Israel in a 10-0 game that was called after eight innings because of the mercy rule. In earlier action, Great Britain upset Colombia -- a result that helps the USA control its own destiny to reach the quarterfinals.
Pool play in the WBC wraps up Wednesday, the same day the quarterfinals begin. Half the quarterfinal field is set with Japan, Australia, Cuba and Italy punching their tickets to the knockout round.
This version of the WBC was originally supposed to be played in 2021 but was postponed due to the COVID-19 pandemic. Action got started on Wednesday, March 8 (technically first pitch of the 2023 WBC opener in Taiwan took place at 11 p.m. ET on March 7), and there will be a total of 47 games. The championship game is set for Tuesday, March 21 in Miami.
Plenty of MLB stars are taking part in the event, including Shohei Ohtani , Juan Soto , Julio Rodríguez, Francisco Lindor , Mike Trout and Trea Turner . Full team rosters can be viewed here , and here's a primer on the event from CBS Sports' Mike Axisa . Here are Matt Snyder's power rankings for the tournament .
Below, fans can find the full list of 2023 World Baseball Classic teams, as well as the entire schedule and odds.
2023 World Baseball Classic schedule
All games on Fox, FS1 and FS2 can be streamed on fuboTV (try for free).
(All times Eastern)
Monday, March 13
- Korea 22, China 2
- Dominican Republic 6, Nicaragua 1
- Great Britain 7, Colombia 5
- Puerto Rico 10, Israel 0 (F/8)
- United States vs. Canada, 10 p.m., FS1
Tuesday, March 14
- Venezuela vs. Nicaragua, 12 p.m., FS2
- Colombia vs. Canada, 3 p.m., FS2
- Dominican Republic vs. Israel, 7 p.m., FS2
- Mexico vs. Great Britain, 10 p.m., FS1
Wednesday, March 15
- Cuba vs. Australia (quarterfinals), 6 a.m., FS2
- Israel vs. Venezuela, 12 p.m., FS2
- Canada vs. Mexico, 3 p.m., FS2
- Dominican Republic vs. Puerto Rico, 7 p.m., FS2
- Colombia vs. United States, 10 p.m., FS1
Thursday, March 16
- Japan vs. Italy (quarterfinals), 6 a.m., FS2
Friday, March 17
- TBD vs. TBD (quarterfinals), 7 p.m., FS1
Saturday, March 18
- TBD vs. TBD (quarterfinals), 7 p.m., Fox
Sunday, March 19
- TBD vs. TBD (semifinals), 7 p.m., FS1
Monday, March 20
Tuesday, March 21
- TBD vs. TBD (championship game), 7 p.m., FS1
2023 World Baseball Classic scores
Sunday, March 12
- Japan 7, Australia 1
- Italy 7, Netherlands 1
- Israel 3, Nicaragua 1
- Canada 18, Great Britain 8
- Venezuela 9, Puerto Rico 6
- Mexico 11, United States 5
- Australia 8, Czech Republic 3
Saturday, March 11
- Japan 10, Czech Republic, 2
- Chinese Taipei 9, Netherlands 5
- Puerto Rico 9, Nicaragua 1
- Colombia 5, Mexico 4
- Venezuela 5, Dominican Republic 1
- United States 6, Great Britain 2
- Korea 7, Czech Republic 3
- Cuba 7, Chinese Taipei 1
Friday, March 10
- Japan 13, Korea, 4
- Chinese Taipei 11, Italy 7
- Australia 12, China, 2 (F/7)
- Panama 2, Italy 0
Thursday, March 9
- Japan 8, China 1
- Italy 6, Cuba 3 (F/10)
- Czech Republic 8, China 5
- Cuba 13, Panama 4
Wednesday, March 8
- Panama 12, Chinese Taipei 5
- Australia 8, Korea 7
- Netherlands 3, Panama 1
Tuesday, March 7
- Netherlands 4, Cuba 2
2023 World Baseball Classic teams
Pool A (Group play in Taichung, Taiwan)
- Chinese Taipei
Pool B (Group play in Tokyo, Japan)
- Czech Republic
Pool C (Group play in Phoenix, Arizona)
- Great Britain
- United States
Pool D (Group play in Miami, Florida)
- Dominican Republic
- Puerto Rico
2023 World Baseball Classic odds
(via Caesars Sportsbook entering the tournament)
- Dominican Republic: +200
- United States: +250
- Japan: +280
- Puerto Rico: +650
- Venezuela: +1000
- Korea: +1200
- Cuba: +1600
- Mexico: +1800
- Canada: +3500
- Netherlands: +4000
- Chinese Taipei: +4000
- Panama: +6000
- Israel: +10000
- Great Britain: +10000
- Australia: +10000
- Colombia: +10000
- Italy: +15000
- Nicaragua: +15000
- China: +25000
- Czech Republic: +30000
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Culture of fear persists at Sports Direct despite promise to raise standards
Workers remain concerned that airing grievances could lead to them losing their jobs
The culture of fear in Sports Direct’s warehouse has yet to be eradicated, workers claimed, as the company promised on Tuesday to improve conditions as part of a number of pledges published in an internal report.
Sources close to the retailer’s depot in Shirebrook, Derbyshire, said they continue to be afraid for their jobs and were too scared to raise grievances.
One worker employed in Shirebrook through an employment agency – like the majority of staff at the warehouse – said that during the summer some employees had been switched to rotas in which they had to work extra shifts at short notice, creating problems with childcare.
The source said: “They were changing rotas at very short notice. You must go [to work the shift] because people are scared. If you say you can’t go to work the agency then calls you to say ‘sorry, we don’t need you’.”
Two other sources indicated that workers remained worried that complaining about the treatment of workers inside the facility could cost them their jobs.
The comments were made as Sports Direct published an internal investigation into working conditions that was conducted by the retailer’s law firm, RPC.
The report received a mix reception from trade unions and politicians who had been pressuring the group to improve its widely criticised working practices. There were concessions on zero-hours contracts for shop workers and a backtracking on the controversial six-strikes-and-you’re-out policy in the warehouse . However, the report stopped short of pledging to employ about 4,000 warehouse workers directly via Sports Direct rather than on temporary agency contracts that currently apply to the vast majority of warehouse workers.
One source close to the warehouse operation said the group did not have the internal human resources staff qualified to manage 4,000 full-time warehouse workers, even if it wanted to.
In its report, Sports Direct pledged to bolster its human resources operation to ensure there was “no culture of fear”. The report was published in the wake of the Guardian’s investigation into the retailer last year , when undercover reporters exposed how the group was paying many warehouse workers less than the national minimum wage.
The Guardian investigation also spoke to local primary school teachers who said that parents who worked in the warehouse were sending their childrento school while ill because they were concerned they would lose their jobs if they took time off to care for a sick child.
After sustained efforts to avoid giving evidence to a subsequent parliamentary inquiry into working conditions at the retailer, billionaire founder Mike Ashley finally appeared in June after being warned that he could have been found in contempt of parliament if he refused. At the hearing he confirmed the Guardian’s reporting by admitting that the company had broken the law by paying some workers less than the legal minimum.
HM Revenue & Customs, along with the union Unite, which has led a long-running campaign highlighting conditions in Shirebrook, forced the company into making back payments of wages to short-changed minimum wage workers. The bill is thought likely to approach £1m for the retailer and its employment agencies, who are also thought to be facing fines totalling about £2m.
RPC’s report said that Sports Direct’s failure to pay warehouse workers the legal minimum was “unintentional”.
- Frasers Group
- Retail industry
- Living wage
- Zero-hours contracts
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- Administrative Services
Enrollment and School Assignment
The Board of Trustees approved a [ Board Policy 5116 ] governing student enrollment and school assignment in October 2011. In adopting this new policy, the Board’s priority was to preserve the community’s commitment to neighborhood schools while providing flexibility for variations in enrollment over time. The policy eliminates school attendance areas, the former geographic boundaries for each of the six elementary schools, and establishes a district-wide attendance area with the goal of assigning students to schools near their homes.
The policy directs the Superintendent to establish an unbiased enrollment process and an objective assignment criteria. All of our enrollment information can be found at the links to the right.
Process for school assignment
Under the new process for school assignment, students will be assigned to elementary schools based on the walking distance from their homes. The assignment criteria will take into account the walking distance from each new incoming student’s home to each of the six elementary schools as well as the limited capacity of each of the schools. Each enrollment period is a self-contained cycle.
The District will use a well-studied algorithm to optimize school assignment by assigning students to the closest schools that have available room.
How does the Algorithm work to assign students?
The Belmont-Redwood Shores School District assigns students to schools using an algorithm. The school assignment algorithm developed by the District is based on a linear optimization (also known as linear programming) function known as minimum-cost flow formula. Companies use similar linear optimization functions to make important business decisions. For example, airlines use a linear optimization function to determine flight routes that are most direct and minimize fuel costs, and shipping companies use a similar method to move packages from warehouses to stores to customers most efficiently.
In our case, the District uses a linear optimization method to assign incoming students to schools close to their homes and within the limits of the enrollment capacity at each school. The assignment algorithm allows the District to find the optimal solution to minimize the total distance traveled by all students to their schools. One way to think about the District’s goal is to imagine a pedometer attached to every student for one morning’s walk to school; the optimal assignment would minimize the sum of the distances of all students’ walks to their schools. Instead of pedometers, however, the walking distance for all students is determined by querying the same Web-based mapping service, such as Bing Maps.
The Belmont-Redwood Shores School District assigns students to schools using the algorithm to minimize total walking distance traveled collectively by all students being assigned in that calculation. The calculation consists of two distinct phases. In the first phase, the distance from each student’s home to each of the six elementary schools is calculated. In the second phase, which can be run repeatedly with different parameters, these distances are used, along with minimum and maximum capacity of each school, to perform an assignment that minimizes the total distance travelled.
In the current implementation, the Bing Maps service is used to transform the addresses of each student to a latitude and longitude, and this location is then used to calculate the walking distance to each school entrance. When calculating distances to each of the six schools, there are two schools that have multiple entrances, and for those schools, the distance used for assignment is the minimum distance to any of the school’s entrances.
Once the distances are calculated for each student, the assignment is performed according to the capacity constraints provided by the program operator. In order to perform the actual assignment to minimize the total distance travelled by all students being assigned to schools while respecting the capacity constraints at each school, the Microsoft Solver Foundation package is used.
2017-2018 Online Enrollment Here.
Important Notice: Starting March 1, 2016, you must schedule an appointment to submit supplemental enrollment documents after completing the online enrollment form. All families are asked to schedule an appointment by clicking here . You must have the online enrollment form completed prior to your appointment.
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2017-18 Visitation & Enrollment Timeline
Frequently Asked Questions - Regarding Enrollment & School Assignment
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Informal Primary Language Survey
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Priority Reassignment Process
The BRSSD has fulfilled its school assignment goal if your child has been assigned to his/her first or second closest school. The following outlines our Reassignment Process:
- Students receiving a school assignment to their third, fourth, fifth or sixth closest school will be put on the Priority Reassignment list automatically.
- Siblings who are assigned to different schools will be placed on the Priority Reassignment list automatically.
- Students on the Priority Reassignment list will be given first consideration for new seats that become available at their first or second closest school.
- The processing of school assignment for subsequent enrollment period enrollees happens after all possible priority reassignment placements are completed.
- After school starts and through April 30th, students on the Priority Reassignment list remains active, and will be offered a school reassignment when a seat opens up at the closest or second closest school.
- Students, who are still on the Priority Reassignment list after April 30 th , will be given first consideration for open seats in the next school year.
- A student remains on the Priority Reassignment list until a reassignment option is offered, the student enters middle school or the student disenrolls from the BRSSD.
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How to collect spousal support
Usually, the payments are taken directly from your spouse's pay by their employer and sent to you (called an earnings assignment or income withholding). Some people call this a wage garnishment. If your spouse does not pay support, there are steps you can take to collect the support you're owed.
How you get the support payments
Often payments come directly from your spouse's employer .
Whenever a judge orders someone to pay spousal support, they usually also sign an earnings assignment order. The earnings assignment order tells your spouse's employer to take the support payments out of your spouse's pay. If your spouse also has a child support earnings assignment, the employer takes child support out first. Spousal or domestic partner support is taken out after that.
The employer sends the money to you. If you also receive child support, the employer sends the money to the State Disbursement Unit (SDU) who then sends it to you.
If your spouse does not have a regular employer, like they are self-employed or work contract jobs, the judge can order your spouse to send payments directly to you.
You can agree to get support payments directly from your spouse
Some people agree to this if their spouse has a history of making payments on time and having their employer pay will cause them hardship. If you also receive child support and the Local Child Support Agency ( LCSA ) is part of your case, then someone from that agency will need to agree as well. The judge will need to sign the agreement to make it part of the order.
If you agree to get payments directly from your spouse, you can still ask for an earnings assignment, but ask that it gets put on hold (stayed). Then, if your spouse ever stops paying support to you, you can ask the judge to end the stay of the earnings assignment. This means you can have it sent to the employer.
How to get an earnings assignment or have it put on hold
If you also receive child support and the LCSA is part of your case, they will get an earnings assignment order (called Income Withholding). If not, then you will need to submit the paperwork to ask the judge for the order.
If you need to get the earnings assignment
1. Get a signed copy of an earnings assignment order If you asked in your support agreement or at a hearing on support for an earnings assignment, the judge will sign an Earnings Assignment Order for Spousal or Partner Support ( form FL-435 ). If you also receive child support, the judge will sign an Income Withholding for Support ( form FL-195 ) instead.
2. Serve the employer After the judge signs the Earnings Assignment or Income Withholding Order , have someone over 18, not you, mail a copy of the Order along with a blank Request for Hearing Regarding Earnings Assignment ( form FL-450 ) to your spouse's employer. Complete a Proof of Service by Mail ( form FL-335 ). Your server must sign it. File it with the court.
3. The employer takes the support from your spouse's pay
Once the employer receives the Order, they have 10 days to take the money from your spouse's next paycheck. If your spouse also has a child support earnings assignment, the employer takes child support out first. Spousal or domestic partner support is taken out after that. 4. Support is sent to you or to the State and then to you If the order is only to pay spousal support, the employer sends the money directly to you. If the order includes child support, the employer sends the money to the State Disbursement Unit (SDU). The SDU then sends the child and spousal support to you. It will not come from the employer. If you have any questions, contact the SDU at 1-866-901-3212 or visit the State Disbursement Unit's website .
If the LCSA is part of your case, they will get the order
The LCSA will handle getting an Income Withholding Order . They will have the order served within 15 days of locating your spouse's employer. Once the employer receives the Order, they have 10 days to take the money from your spouse's next paycheck. The employer takes child support out first. Spousal or domestic partner support is taken out after that.
The employer must send the money to the SDU. The SDU then sends the child and spousal support to you. It will not come from the employer or the LCSA.
If you want the order put on hold
1. Sign an agreement. You and your spouse can write up an agreement that you both sign stating that you agree to "stay the service of the earnings assignment order." If the LCSA is part of your case, someone from that agency will need to approve and sign the agreement. 2. Your spouse fills out a court form. Your spouse can fill out the Stay of Service of Earnings Assignment Order ( form FL-455 ). Attach the signed agreement to the form.
3. Make copies and file the form . Make at least 1 copy of the form and agreement. File the original with the clerk. If the judge agrees with your request, they will sign the Stay of Service. If your spouse stops making payments, you can ask the judge to end (terminate) the stay by filling out page 2 of form FL-455 and filing it with the clerk.
If your spouse is not paying support
Your spouse will owe interest on any unpaid support. The interest rate for unpaid support is 10% per year. It works like interest on a credit card.
Ask the LCSA to help if you also receive child support
If you also receive child support, you can ask the Local Child Support Agency (LCSA) to help you collect support. They help collect spousal support if you're receiving child support (not just an order for past-due child support). Their services are free.
The LCSA has many other ways to help collect support. They have access to databases to find where someone works. They can also take income tax refunds, report the unpaid support to a credit agency, and have money taken from someone's bank accounts. Contact the LCSA to find out if they can help.
Have unpaid support added into an earnings assignment
If your spouse misses payments, you can ask a judge to make an order that says exactly how much is owed in unpaid support (called arrearages ). Then, you can ask the judge to order that your spouse makes a monthly payment on the amount unpaid in addition to their monthly payments.
Fill out and file your court forms
- Request for Order ( form FL-300 )
- Application to Determine Arrearages ( form FL-490 )
- Declaration of Payment History ( form FL-420 )
- Payment History Attachment ( form FL-421 ) to show the overdue support amounts
On your Form FL-300, check the box at item 8 (“Other Orders Requested”) and write in “Determine arrears and set monthly liquidation payment of $ ( write in a reasonable amount ).” The “liquidation payment” is the payment that goes toward your back spousal or partner support.
After you file the forms, you need to have someone mail a copy of your papers to your spouse and to the LCSA if they are part of our case (serve your papers). A judge will decide on your court date whether to change the amount. Get step-by-step instructions on how to file and serve your forms, and prepare for your court date.
Get free help
Your court's Self-Help Center can help you with earnings assignments or income withholding orders. If you need help with the forms or your spouse's employer is not sending the money, talk to staff at your court's Family Law Facilitator or Self-Help Center .
Sports Direct can offer you the step to a successful retail career. Head Office Offering you a fantastic experience and development opportunities. Students Develop your skillset and start your career with a leading retail business. Warehouse Vacancies Be part of something great, discover our vacancies. The Sports Direct family stand together
Sport direct is a British retailing company founded by Mike Ashley in 1982. It is the largest sport retailer in the United Kingdom and operates roughly 465 stores worldwide. Its headquarters and warehouse is located at Shirebrook and housed at the time 200 permanent employees and 3,000 agency workers.
Your one stop sport shop for the biggest brands - browse sneakers for Men, Women & Kids. Plus sports fashion, apparel & accessories.
Your one stop sport shop for the biggest brands - browse trainers for Men, Women & Kids. Plus sports fashion, clothing & accessories.
In 2007, the company had taken 25% stake of Matalan and also in June 2007 Sports Direct have acquired Everest for 84 million Euro. The company has a holding on John David of 12.3% approx. Apart from that they have more than 11,000 employees in UK and they have franchises in South Africa and Middle East.
This report highlights the case of Sports Direct company which is a retailing group that deals in sporting goods. It has approx 670 stores located over nation. Assignment throws light on various key theories and effective management styles adopted by this company that lead to their success in short span of time. TASK 1.
Sports Direct must establish itself and evaluate exceptional strategies address the issues in the workplace. If the company focuses on the training and develop program more it can acquire sustainability. The stability for the company lies within the strategies it implements for its success.
Sports Direct's stores are nothing if not distinctive. Cramming sporting kit next to jeans, cheap merchandise and even handbags, the retailer has made a brand out of its "pile 'em high, sell 'em cheap" strategy. The stores might not look pretty but it's a mix that works.
Sports Direct. Mike Ashley's Sports Direct is the UK's largest sports goods retailer, operating around 950 stores worldwide with 600 in the UK. Founded in 1982, Sports Direct has grown into a multi-retailer company that owns everything from department stores House of Fraser and Flannels to preppy fashion brand Jack Wills and computer game ...
Sports Direct International Plc. operates in a complex and dynamic environment characterized by regulatory changes, growing environmental activism, collective social trends, technological changes and evolving legal system. Scale your grade expectation bar HIGH! Our perfectly written content guarantees exceptional academic performance.
Direct assignment (DA) is a very popular way of achieving liquidity needs of an entity. With the motives of achieving off- balance sheet treatment accompanied by low cost of raising funds, financial sector entities enter into securitisation and direct assignment transactions involving sale of their loan portfolios. DA in the context of Indian ...
Sports Direct has finished bottom in a consumer survey of the best places to buy outdoor and sporting equipment. The retailer, owned by Mike Ashley's Frasers Group, was criticised for its after...
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Sports Direct said it would drop zero-hours contracts after a Guardian investigation revealed the retailer was paying many warehouse workers less than the national minimum wage. Photograph:...
Clerk's Office (Direct Calendaring, Complex Litigation, Asbestos) 510-267-6911 CRIMINAL DIVISION Clerk's Office: 510-267-6912 FAMILY DIVISION Clerk's Office (Unlawful Detainers, Small Claims, Civil Restraining Orders) 510-267-6911 Clerk's Office (Divorce, Child Custody, Child Support) 510-267-6923 JURY SERVICES
The processing of school assignment for subsequent enrollment period enrollees happens after all possible priority reassignment placements are completed. After school starts and through April 30th, students on the Priority Reassignment list remains active, and will be offered a school reassignment when a seat opens up at the closest or second ...
1. Get a signed copy of an earnings assignment order If you asked in your support agreement or at a hearing on support for an earnings assignment, the judge will sign an Earnings Assignment Order for Spousal or Partner Support (form FL-435).If you also receive child support, the judge will sign an Income Withholding for Support (form FL-195) instead.
Kevin V. Nguyen is a versatile writer and journalist based in the Bay Area. He was most recently a general assignment reporter at The San Francisco Standard where he covered a large swath of ...