on 31-Oct-2021 (Sun)

Besides, it compensates larger financing part by equity mainly due to the 114% growth rate in additional paid in capital to $27,261 million.

The increase in two long-term solvency ratios shows the financing preference turns to equity

Firstly, compared with the traditional fuel vehicle brand, Tesla cannot compete with it in terms of technology and market demand, and the main sales vehicles cannot achieve mass production. Tesla has three models, while Ford has more than 30 models to share the cost of inventory. Thus, Tesla cannot guarantee a high inventory turnover rate as a traditional car company. Secondly, the relationship between labour and capital is tense. 2% to 3% of the total number of employees are fired because they fail to achieve their work performance, and workers are forced to work. Issues such as manual manufacturing of major auto parts have occurred. The relationship between the company members and leaders, members and the company will directly affect the production process of the company. If it causes contradictions among workers, it will lead to the risk of production chain interruption.

Accounts payable turnover is continuing decreasing. Under the impact of COVID-19 pandemic in 2020, Tesla may not be able to repay the payable in time. Therefore, the Accounts payable turnover is decreasing. The decreasing of Accounts payable turnover indicates the well management of the payable of Tesla.

However, from the year 2019 to 2020, the sales to net working capital ratio is decreasing from 17.12 to -2.53, i.e., Tesla may have the over capitalisation risk.

As demonstrated in Fig. 10, Tesla’s account receivables turnover is much higher than other companies. As the benefit of long-term savings on fuel costs and the increased environmental awareness, it encourages more buyers to switch from a conventional car to an electric car. Therefore, the barging power of Tesla is very high, i.e., Tesla’s account receivables turnover is much higher.

its operating costs are increasing in recent year which are at a relatively high level in the industry

By analysing its financial statements, one finds that employee frequent turnover may be the reason for the decline in its inventory turnover rate.

After the overcapacity reaches a certain level, there will be confusion, stagnation and crisis in production

e six basic elements of music are: • Rhythm • Melody • Harmony • Timbre • Texture

The six basic elements of music are: • Rhythm • Melody • Harmony • Timbre • Texture • Form

Both rhythm and form deal with music in time. Rhythm concerns the sequencing and ordering of the moment-to-moment events, from the steady pulse underlying the music to the unlimited array of rhythmic patterns riding above it that help to add both unity and variety. It may be useful to think of rhythm as the engine that moves the music forward and gives it the feeling of always going somewhere. We will begin our exploration of music fundamentals here. Form, on the other hand, is about how an entire piece of music unfolds in time, that is, how the various parts or sections go together to create a musical shape that is both recognizable and pleasing to the ear. The 12-bar blues is one such example of musical form that we will explore. Melody and harmony are also related; they deal with pitch and its musical manip-ulation. Melody is the horizontal unfolding of pitch over time. It creates the shapes that we identify as songs. Harmony, on the other hand, involves the vertical aspect of pitch, and how various sounds (or chords) go together to create pleasing and inter- esting combinations (or progressions). Because this book deals with tonal music, we will spend a great deal of time working with these two elements. The elements of timbre and texture are related to the sounds of instruments and voices. Timbre refers both to the sounds of individual instruments and voices, such as the trumpet, piano, tenor voice, or guitar, as well as to various combinations of instru- ments, such as the early rock ’n’ roll band, the string quartet, or the church choir. All of these individual instruments and ensembles have their own unique timbre. To learn more about timbre, including a discussion of instrumental families and the ranges of individual instruments, see Appendix I, A Brief Introduction to Timbre. Texture, on the other hand, refers to the number of individual voices, or instrumen- tal lines, a piece of music may contain. When discussing musical texture we speak of a thick or a thin texture, and whether it is monophonic (a single melody line), homo- phonic (a melody with accompaniment), or polyphonic (two or more equally important melodies, as in a fugue or a round). This book will focus primarily on rhythm, melody, and harmony, but will also deal with all six of these elements to one degree or another. You will find that each style of music has developed its own way of defining, weighing, and combining these elements, and that if you can identify these differences, your understanding of music, as well as your ability to perform some of it, will increase dramatically.

Timbre, as you will recall from the discussion of the elements of music, involves the color of the sound. It is what allows us to identify a particular sound as made by a guitar, flute, or violin, even though they may all be playing the same pitch. Although we will not spend a great deal of time discussing timbre, it is important that musicians be able to identify instruments by sound, and you should begin to develop this ability on your own or with your teacher’s help