Counseling Report Essay Example | Topics and Well Written Essays - 2000 words

Counseling Report - Essay Example Starting therapy: They both said that they were happy in their marriage. They both agreed that they tend to look at some things differently, which can cause strain between them, but they also said that it was their differences that had drawn them to each other in the beginning. Narrative Summary of Session: The couple sat side by side during therapy. Mrs. Smith kept looking down at her hands instead of at me, but when her husband talked she always turned her head to look at him. Mr. Smith’s eyes remained locked with mine. He appeared self-confident and very comfortable with himself, unlike his wife. When his wife talked Mr. Smith did not turn his head to look at her, but he did respond to some of her statements which indicated that he had been listening closely to her. for five years. Mrs. Smith spoke of the age difference between she and her husband. She is two years older then Mr. Smith, but in terms of experience she feels younger than he does. I asked her what she meant by that. Mr. Smith did not speak up for his wife, rather he looked at her briefly before turning to stare at me and waited for her to respond to my question. Mrs. Smith said that she was a virgin when she met Mr. Smith and he was not. In fact, she admits that she knew he had quite a bit of experience with women. She also mentioned that Mr. Smith traveled a lot in his twenties to Europe and throughout the United States. Although Mrs. Smith has traveled, it has not been to the extent that Mr. Smith has. She admitted that Mr. Smith has more self-confidence in himself than she and people seemed more drawn to him as opposed to her. She describes herself as introverted, her

Project on Budgetary Control Essay Example for Free

Project on Budgetary Control Essay 1. A budget is concerned for a definite future period. 2. A budget is a written document. 3. A budget is a detailed plan of all the economic activities of a business. 4. All the departments of a business unit co-operate for the preparation of a business budget. 5. Budget is a mean to achieve business and it is not an end in itself. 6. Budget needs to be updated, corrected and controlled every time when circumstances changes. Therefore it is a continuous process. 7. Budget helps in planning, coordination and control. 8. Different types of budgets are prepared by industries according to business requirements. 9. A budget acts a business barometer. 10. Budget is usually prepared in the light of Past Experience. 11. Budget is a constant endeavor of the Management. 2 PREPARATION OF BUDGETS 1. Definition of objectives: A budget being a plan for the achievement of certain operational objectives, it is desirable that the same are defined precisely. The objectives should be written out; the areas of control demarcated; and items of revenue and expenditure to be covered by the budget stated. This will give a clear understanding of the plan and its scope to all those who must cooperate to make it a success. 2. Location of the key (or budget) factor: There is usually one factor (sometimes there may be more than one) which sets a limit to the total activity. For instance, in India today sometimes non-availability of power does not allow production to increase inspite of heavy demand. Similarly, lack of demand may limit production. Such a factor is known as key factor. For proper budgeting, it must be located and estimated properly. 3. Appointment of controller: Formulation of a budget usually requires whole time services of a senior executive; he must be assisted in this work by a Budget Committee, consisting of all the heads of department along with the Managing Director as the Chairman. The Controller is responsible for co-ordinating and development of budget programmes and preparing the manual of instruction, known as Budget manual. The Budget manual is a schedule, document or booklet which shows, in written forms the budgeting organisation and procedures. The manual should be well written and indexed so that a copy thereof may be given to each departmental head for guidance. 3 4. Budget period: The period covered by a budget is known as budget period. There is no general rule governing the selection of the budget period. In practice the Budget Committee determines the length of the budget period suitable for the business. Normally, a calendar year or a period coterminous with the financial year is adopted. The budget period is then sub-divided into shorter periods—it may be months or quarters or such periods as coincide with period of trading activity. 5. Standard of activity or output: For preparing budgets for the future, past statistics cannot be completely relied upon, for the past usually represents a combination of good and bad factors. Therefore, though results of the past should be studied but these should only be applied when there is a likelihood of similar conditions repeating in the future. Also, while setting the targets for the future, it must be remembered that in a progressive business, the achievement of a year must exceed those of earlier years. Therefore what was good in the past is only fair for the current year. In budgeting, fixing the budget of sales and of capital expenditure are most important since these budgets determine the extent of development activity. For budgeting sales, one must consider the trend of economic activity of the country, reactions of salesmen, customers and employees, effect of price changes on sales, the provision for advertisement campaign plan capacity etc. 4 Meaning of Budgetary Control: The Chartered Institute of Management Accountants of England and Wales has defined the terms ‘budgetary control’ as â€Å"Budgetary control is the establishment of budgets relating to the responsibilities of executives of a policy and the continuous comparison of the actual with the budgeted results, either to secure by individual action the objective of the policy or to provide a basis for its revision.† It is the system of management control and accounting in which all the operations are forecasted and planned in advance to the extent possible and the actual results compared with the forecasted and planned ones. Budgetary Control Involves: 1. Establishment of budgets 2. Continuous comparison of actuals with budgets for achievement of targets 3. Revision of budgets after considering changed circumstances 4. Placing the responsibility for failure to achieve the budget targets. The salient features of Budgetary Control System are as follows: 1. Determining the objectives to be achieved, over the budget period, and the policy or policies that might be adopted for the achievement of these ends. 2. Determining the variety of activities that should be undertaken for the achievement of the objectives. 3. Drawing up a plan or a scheme of operation in respect of each class of activity, in physical as well as monetary terms for the full budget period and its parts. 5 4. Laying out a system of comparison of actual performance by each person, section or department with the relevant budget and determination of causes for the discrepancies, if any. 5. Ensuring that corrective action will be taken where the plan is not being achieved and, if that be not possible, for the revision of the plan. In brief, it is a system to assist management in the allocation of responsibility and authority, to provide it with aid for making, estimating and planning for the future and to facilitate the analysis of the variation between estimated and actual performance. In order that budgetary control may function effectively, it is necessary that the concern should develop proper basis of measurement or standards with which to evaluate the efficiency of operations, i.e., it should have in operation a system of standard costing. Besides this, the organization of the concern should be so integrated that all lines of authority and responsibility are laid, allocated and defin ed. This is essential since the system of budgetary control postulates separation of functions and division of responsibilities and thus requires that the organization shall be planned in such a manner that everyone, from the Managing Director down to the Shop Foreman, will have his duties properly defined. Objectives of Budgetary Control System: 1. Portraying with precision the overall aims of the business and determining targets of performance for each section or department of the business. 2. Laying down the responsibilities of each of the executives and other personnel so that everyone knows what is expected of him and how he will be judged. Budgetary control is 6 one of the few ways in which an objective assessment of executives or department is possible. 3. Providing a basis for the comparison of actual performance with the predetermined targets and investigation of deviation, if any, of actual performance and expenses from the budgeted figures. This naturally helps in adopting corrective measures. 4. Ensuring the best use of all available resources to maximize profit or production, subject to the limiting factors. Since budgets cannot be properly drawn up without considering all aspects usually there is good co-ordination when a system of budgetary control operates. 5. Co-coordinating the various activities of the business, and centralizing control and yet enabling management to decentralize responsibility and delegate authority in the overall interest of the business. 6. Engendering a spirit of careful forethought, assessment of what is possible and an attempt at it. It leads to dynamism without recklessness. Of course, much depends on the objectives of the firm and the vigour of its management. 7. Providing a basis for revision of current and future policies. 8. Drawing up long range plans with a fair measure of accuracy. 9. Providing a yardstick against which actual results can be compared. Working of a budgetary control system: The responsibility for successfully introducing and implementing a Budgetary Control System rests with the Budget Committee acting through the Budget Officer. The Budget Committee would be composed of all functional heads and a member from the Board to 7 preside over and guide the deliberations. The main responsibilities of the Budget Officer are: 1. To assist in the preparation of the various budgets by coordinating the work of the accounts department which is normally responsible to compile the budgets—with the relevant functional departments like Sales, Production, Plant maintenance etc.; 2. To forward the budget to the individuals who are responsible to adhere to them, and to guide them in overcoming any practical difficulties in its working; 3. To prepare the periodical budget reports for circulation to the individuals concerned; 4. To follow-up action to be taken on the budget reports; 5. To prepare an overall budget working report for discussion at the Budget Committee meetings and to ensure follow-up on the lines of action suggested by the Committee; 6. To prepare periodical reports for the Board meeting. Comparing the budgeted Profit and Loss Account and the Balance Sheet with the actual results attained. It is necessary that every budget should be thoroughly discussed with the functional head before it is finalized. It is the duty of the Budget Officer to see that the periodical budget reports are supplied to the recipients at frequent intervals as far as possible. The efficiency of the Budget Officer, and through him of the Budget Committee, will be judged more by the smooth working of the system and the agreement between the actual figures and the budgeted figures. Budgets are primarily an incentive and a challenge for better performance; it is up to the 8 Budget Officer to see that attention of the different functional heads is drawn to it to face the challenge in a successful manner. Advantages of Budgetary Control System: 1. The use of budgetary control system enables the management of a business concern to conduct its business activities in the efficient manner. 2. It is a powerful instrument used by business houses for the control of their expenditure. It in fact provides a yardstick for measuring and evaluating the performance of individuals and their departments. 3. It reveals the deviations to management, from the budgeted figures after making a comparison with actual figures. 4. Effective utilization of various resources like—men, material, machinery and money is made possible, as the production is planned after taking them into account. 5. It helps in the review of current trends and framing of future policies. 6. It creates suitable conditions for the implementation of standard costing system in a business organization. 7. It inculcates the feeling of cost consciousness among workers. 8. It helps the principal of management by exception to apply. 9. Management which has developed a well ordered budget plans and which operate accordingly, receive greater favour from credit agencies. 9 Limitations of Budgetary Control System: 1. Based on Estimates: Budgets may or may not be true, as they are based on estimates. 2. Time factor: Budgets cannot be executed automatically. Accuracy in budgeting comes through experience. Management must not expect too much during the development period. 3. Cooperation Required: Staff co-operation is usually not available during budgetary control exercise. The success of the budgetary control depends upon willing co-operation and teamwork, 4. Expensive: Its implementation is quite expensive. No budgetary programme can be successful unless adequate arrangements are made for supervision and administration. 5. Not a substitute for management: Budget is only a managerial tool. It cannot substitute management. 6. Rigid document: Budgets are considered as rigid document. But in reality, firm’s affairs continuously change under inflationary pressure and changing government policies. 10 ZERO BASE BUDGETS The technique of zero base budgeting suggests that an organisation should not only make decisions about the proposed new programmes, but should also review the appropriateness of the existing programmes from time to time. Such a review should particularly be done of such responsibility centres where there is relatively high proportion of discretionary costs. Costs of this type depend on the discretion or policies of the responsibility centre or top managers. These costs have no direct relation to volume of activity. Hence, management discretion typically determines the amount budgeted. Some examples are: expenditure on research and development, personnel administration, legal advisory services. Zero base budgeting, as the term suggests, examines or reviews a programme or function or responsibility from ‘scratch’. The reviewer proceeds on the assumption that nothing is to be allowed. The manager proposing the activity has, therefore, to justify that the activity is essential and the various amounts asked for are reasonable taking into account the outputs or results or volume of activity envisaged. No activity or expense is allowed simply because it was being allowed or done in the past. Thus according to this technique each programme, whether new or existing, must be justified in its entirety each time a new budget is formulated. It involves: 1. Dealing with particularly all elements of mangers budget requests 2. Critical examination of ongoing activities along with the newly proposed activities 3. Providing each manger a range of choice in setting priorities in respect of different activities and in allocating resources. 11 Process of Zero Base Budgeting: The following steps are involved in Zero base budgeting: Determining the objectives of budgeting: The objective may be to effect cost reduction in staff overheads or it may be to drop, after careful analysis, projects which do not fit into achievement of the organizations objectives etc. Deciding on scope of application: The extent to which zero base budgeting is to be introduced has to be decided, i.e. whether it will be introduced in all areas of the organisations activities or only in a few selected areas on trial basis. Developing decision units Decision units for which cost-benefit analysis is proposed have to be developed so as to arrive at decisions whether they should be allowed to continue or to be dropped. Each decision unit, as far as possible should be independent of other units so that it can be dropped if the cost analysis proves to be unfavourable for it. Developing decision packages : A decision package for each unit should be developed . While developing a decision package, answers to the following questions would be desirable: †¢ Is it necessary to perform a particular activity at all? If the answer is in the negative, there is no need to proceed further. †¢ How much has been the actual cost of the activity and what has been the actual benefit both in tangible as well as intangible forms? †¢ What should be the estimated cost of the level of activity and the estimated benefit from 12 such activity? †¢ Should the activity be performed in the way in which it is being performed, and what should be the cost? †¢ If the project or activity is dropped, can the unit be replaced by an outside agency? After completing decision packages for each unit, the units are ranked according to the findings of cost benefit analysis. Essential projects are identified and given the highest ranks. The last stage is that of implementing the decision taken in the light of the study made. It involves the selection and acceptance of those projects which have a positive cost-benefit analysis or which are capable of meeting the objectives of the organization. The above analysis shows that zero base budgeting is in a way an extension of the method of cost benefit analysis to the area of the corporate budgeting. Advantages of Zero Base Budgeting: †¢ It provides the organization with systematic way to evaluate different operations and programmes undertaken. It enables management t o allocate resources according to priority of the programmes. †¢ It ensures that each and every programme undertaken by managers is really essential for the organization, and is being performed in the best possible way. †¢ It enables the management to approve departmental budgets on the basis of cost-benefit analysis. No arbitrary cuts or increase in budget estimates are made. †¢ It links budgets with the corporate objectives. Nothing will be allowed simply because it was being done in the past. An activity may be shelved if it does not help in achieving the goals of the enterprises. 13 †¢ It helps in identifying areas of wasteful expenditure and, if desired, it can also be used for suggesting alternative courses of action. †¢ It facilitates the introduction and implementation of the system of `management by objectives. Thus it can be used not only for fulfillment of the objectives of traditional budgeting, but also for a variety of other purposes. It is contended that zero base budgeting is time consuming. Of course, it is true, but it happens only in the initial stages when decision units have to be identified and decision packages have to be developed or completed. Once this is done, and the methodology is clear, zero base budgeting is likely to take less time than the traditional budgeting. In any case, till such time the organization is properly acclimatized to the technique of zero base budgeting, it may be done in a way that all responsibility centre’s are covered at least once in three or four years. Zero base budgeting as a concept has become quite popular these days. The technique was first used by the U.S. Department of Agriculture in 1962. Texas Instruments, a multinational company, pioneered its use in the private sector. Today, a number of major companies such as Zerox, BASF, International Harvester and Easter Airlines in the United State are using the system. Some departments of the Government of India have recently introduced zero base budgeting with a view to making the system of budgetary control more effective. 14 PERFORMANCE BUDGETS Performance budgeting (or programme budgeting) has been designed to correct the shortcomings of traditional budgeting by emphasizing managements considerations/ approaches. Both the financial and physical aspects are incorporated into the budget. A performance budget presents the operations of an organisation in terms of functions, programmes, activities, and projects. In performance budgeting, precise detainment of job to be performed or services to be rendered is done. Secondly, the budget is prepared in terms of functional categories and their sub-division into programmes, activities, and projects. Thirdly, the budget becomes a comprehensive document. Since the financial and physical results are interwoven, it facilitates management control. The Main objectives of Performance Budgeting are: (i) to coordinate the physical and financial aspects; (ii) to improve the budget formulation, review and decision-making at all levels of management (iii) to facilitate bett er appreciation and review by controlling authorities (legislature, Board of Trustees or Governors, etc) as the presentation is more purposeful and intelligible; (iv) to make more effective performance audit possible; and (v) to measure progress towards long-term objectives which are envisaged in a development plan. Performance budgeting involves evaluation of the performance of the organisation in the context of both specific, as well as, overall objectives of the organisation. It presupposes a crystal clear perception of organisational objectives in general, and short-term business objectives as stipulated in the budget, in particular by each employee of the organisation, irrespective of his level. It thus, provides a definite direction to each employee and also a control mechanism to higher management. 15 Performance budgeting requires preparation of periodic performance reports. Such reports compare budget and actual data, and show variances. Their preparation is greatly facilitated if the authority and responsibility for the incurrence of each cost element is clearly defined within the firms organisational structure. In addition, the accounting system should be sufficiently detailed and coordinated to provide necessary data for reports designed for the particular use of the individuals or cost centres having primary responsibility for specific cost. The responsibility for preparing the performance budget of each department lies on the respective Department Head. Each Department Head will be supplied with a copy of the section of the master budget appropriate to his sphere. For example, the chief buyer will be supplied with the copy of the materials purchase budget so that he may arrange for purchase of necessary materials. Periodic reports from various sections of a department will be received by the departmental head that will submit a summary report about his department to the budget committee. The report may be daily, weekly or monthly, depending upon the size of business and the budget period. These reports will be in the form of comparison of budgeted and actual figures, both periodic and cumulative. The purpose of preparing these reports is to promptly inform about the deviations in actual and budgeted activity to the person who has the necessary authority and responsibility to take necessary action to correct the deviations from the budget. 16 FUNCTIONAL BUDGET A functional budget is one which is related to function of the business as for example, production budget relating to the manufacturing function. Functional budgets are prepared for each function and they are subsidiary to the master budget of the business. The various types of functional budgets to be prepared will vary according to the size and nature of the business. The various commonly used functional budgets are: †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ Sales budget Production budget Plant utilisation budget Direct-material usage budget Direct-material purchase budget Direct-labour (personnel) budget Factory overhead budget Production cost budget Ending-inventory budget Cost-of-goods-sold budget Selling and distribution cost budget Administration expenses budget Research and development cost budget (xiv) Capital expenditure budget Cash budget 17 Illustration: Sales Budget: Sales forecast is the commencement of budgeting and hence sales budget assumes primary importance. The quantity which can be sold may be the principal budget factor in many business undertakings. In any case in order to chalk out a realistic budget programme, there must be an accurate sales forecast. The sales budget indicates for each product: 1. The quantity of estimated sales and 2. The expected unit selling price. These data are often reported by regions or by sales representatives. In estimating the quantity of sales for each product, past sales volumes are often used as a starting point. These amounts are revised for factors that are expected to affect future sales, such as the factors listed below. 1. Backlog of unfilled sales orders 2. Planned advertising and promotion 3. Expected industry and general economic conditions 4. Productive capacity 5. Projected pricing 6. Findings of market research studies 7. Relative product profitability. 8. Competition. 18 Once an estimate of the sales volume is obtained, the expected sales revenue can be determined by multiplying the volume by the expected unit sales price, the sales budget represents the total sales in physical quantities and values for a future budget period. Sales managers are constantly faced with problem like anticipation of customer requirements, new product needs, competitor strategies and various changes in distribution methods or promotional techniques. The purposes of sales budget is not to attempt to estimate or guess what the actual sales will be, but rather to develop a plan with clearly defined objectives towards which the operational effort is directed in order to attain or exceed the objective. Hence, sales budget is not merely a sales forecast. A budget is a planning and control document which shows what the management intends to accomplish. Thus, the sales budget is active rather than passive. A sales forecast, however, is a projection or estimate of the available customer demand. A forecast reflects the environmental or competitive situation facing the company whereas the sales budget shows how the management intends to react to this environmental and competitive situation. A good budget hinges on aggressive management control rather than on passive acceptance of what the market appears to offer. If the company fails to make this distinction, the budget will remain more a figure-work exercise than a working tool of dynamic management cont rol. 19 The sales budget may be prepared under the following classification or combination of classifications: 1. Products or groups of products. 2. Areas, towns, salesmen and agents. 3. Types of customers as for example: (i) Government, (ii) Export, (iii) Home sales, (iv) Retail depots. 4. Period—months, weeks, etc Example of Sales Budget: XYZ Ltd. Sales Budget for the Year Ended 31 March XXXX Particulars Units Selling Price (P.U) Total Sales Value (Rs.) Product A Product B Total 5000 10000 75 80 375000 800000 1175000 20 LEADING TO THE PREPARATION OF THE MASTER BUDGET When all the necessary functional budgets have been prepared, the budget officer will prepare the master budget which may consist of budgeted profit and loss account and budgeted balance sheet. These are in fact the budget summaries. When the master budget is approved by the board of directors, it represents a standard for the achievement of which all the departments will work. On the basis of the various budgets (schedules) prepared earlier in this study, we prepare below budgeted income statement and budgeted balance sheet. Illustration: Floatglass Manufacturing Company requires you to present the Master budget for the 31 March 2012 from the following information: Sales: Toughened Glass Bent Glass Direct Material Cost Direct Wages Factory Overheads: Indirect Labour Works Manager Foreman Rs. 500 per month Rs. 400 per month 2.5% on Sales Rs. 600000 Rs. 200000 60% of Sales 20 workers @ Rs. 150 per month 21 Stores and Spares Depreciation on Machinery Repairs and Maintenance Other Sundries Administration, selling and Distribution Expenses Rs. 12600 Rs. 3000 Rs. 8000 10% on Direct Wages Rs. 36000 per year Solution: Master Budget for the Year Ending 31 March 2012 Particulars Amount (Rs.) Sales: Toughened Glass Bent Glass Total Sales Less: Cost of Production: Direct Material Direct Wages Prime Cost (A) Fixed Factory Overhead: 480000 36000 516000 600000 200000 800000 Amount (Rs.) 22 Works Manager’s Salary Foreman’s Salary Depreciation Light and Power Total Fixed Factory Overhead (B) Variable Factory Overhead: Stores and Spares Repairs and Maintenance Sundry Expenses Total Variable Factory Overhead (C) Works Cost (A+B+C) Gross Profit (Sales- Works Cost) Less: Administration, Selling and Distribution Expenses Net Profit 6000 4800 12600 3000 26400 20000 8000 3600 31600 574000 226000 36000 190000 23 CAPITAL EXPENDITURE BUDGET: The capital expenditure budget represents the planned outlay on fixed assets like land, building, plant and machinery, etc. during the budget period. This budget is subject to strict management control because it entails large amount of expenditure. The budget is prepared to cover a long period of years and it projects the capital costs over the period in which the expenditure is to be incurred and the expected earnings. The preparation of this budget is based on the following considerations: 1. Overhead on production facilities of certain departments as indicated by the plant utilization budget. 2. Future development plans to increase output by expansion of plant facilities. 3. Replacement requests from the concerned departments 4. Factors like sales potential to absorb the increased output, possibility of price reductions, increased costs of advertising and sales promotion to absorb increased output, etc. Merits/Advantages: 1. It outlines the capital development programme and estimated capital expenditure during the budget per iod. 2. It enables the company to establish a system of priorities. When there is a shortage of funds, capital rationing becomes necessary. 3. It serves as a tool for controlling expenditure. 4. It provides the amount of expenditure to be incorporated in the future budget 24 summaries for calculation of estimated return on capital employed. 5. This enables the cash budget to be completed. With other cash commitments capital expenditure commitment should also be considered for the completion of the budget. 6. It facilitates cost reduction programme, particularly when modernization and renovation is covered by this budget. 25 FIXED AND FLEXIBLE BUDGETS Fixed Budget: According to Chartered Institute of Management Accountants of England, â€Å"a fixed budget is a budget designed to remain unchanged irrespective of the level of activity actually attained†. A fixed budget shows the expected results of a responsibility center for only one activity level. Once the budget has been determined, it is not changed, even if the activity changes. Fixed budgeting is used by many service companies and for some administrative functions of manufacturing companies, such as purchasing, engineering, and accounting. Fixed Budget is used as an effective tool of cost control. In case, the level of activity attained is different from the level of activity for budgeting purposes, the fixed budget becomes ineffective. Such a budget is quite suitable for fixed expenses. It is also known as a static budget. Essential conditions: 1. When the nature of business is not seasonal. 2. There is no impact of external factors on the business activities 3. The demand of the product is certain and stable. 4. Supply orders are issued regularly. 5. The market of the product should be domestic rather than foreign. 6. There is no need of special labour or material in the production of the products. 7. Supply of production inputs is regular. 8. There is a trend of price stability. Generally, all above conditions are not found in practice. Hence fixed budget is not important 26 in business concerns. Merits/advantages: 1. Very simple to understand 2. Less time consuming Demerits/Disadvantages: 1. It is misleading. A poor performance may remain undetected and a good performance may go unrealized. 2. It is not suitable for long period. 3. It is also found unsuitable particularly when the business conditions are changing constantly. 4. Accurate estimates are not possible. Flexible Budget According to Chartered Institute of Management Accountants of England,†a flexible budget is defined as a budget which, by recognizing the difference between fixed, semi-variable and variable costs is designed to change in relation to the level of activity attained.† Unlike static (fixed) budgets, flexible budgets show the expected results of a responsibility center for several activity levels. You can think of a flexible budget as a series of static budgets for different levels of activity. Such budgets are especially useful in estimating and controlling factory cos ts and operating expenses. It is more realistic and practicable because it gives due consideration 27 to cost behaviour at different levels of activity. While preparing a flexible budget the expenses are classified into three categories viz. 1. Fixed, 2. Variable, and 3. Semi-variable. Semi-variable expenses are further segregated into fixed and variable expenses. Flexible budgeting may be resorted to under following situations: 1. In the case of new business venture due to its typical nature it may be difficult to forecast the demand of a product accurately. 2. Where the business is dependent upon the mercy of nature e.g., a person dealing in wool trade may have enough market if temperature goes below the freezing point. 3. In the case of labour intensive industry where the production of the concern is dependent upon the availability of labour. Merits/ Advantages: 1. With the help of flexible budget, the sales, costs and profit may be calculated easily by the business at various levels of production capacity. 2. In flexible budget, adjustment is very simple according to change in business conditions. 3. It also helps in determination of production level as it shows budgeted costs with classification at various levels of activity along with sales. Hence the management can easily select the level of production which shows the profit predetermined by the owners of the bu siness. 4. It also shows the quantity of product to be produced to earn determined profit. 28 Demerits/Disadvantages: 1. The formulation of flexible budget is possible only when there is proper accounting system maintained, perfect knowledge about the factors of production and various business circumstances is available. 2. Flexible Budget also requires the system of standard costing in business. 3. It is very expensive and labour oriented. Need for flexible budget: 1. Seasonal fluctuations in sales and/or production, for example in soft drinks industry; 2. A company which keeps on introducing new products or makes changes in the design of its products frequently; 3. Industries engaged in make-to-order business like ship building; 4. An industry which is influenced by changes in fashion; and 5. General changes in sales. 29 Illustration: A factory which expects to operate 7,000 hours, i.e., at 70% level of activity, furnishes details of expenses as under: Particulars Variable Expenses Amount (Rs.) 1260 Semi- Variable Expenses 1200 Fixed Expenses 1800 The semi-variable expenses go up by 10% between 85% and 95% activity and by 20% above 95% activity. Construct a flexible budget for 80, 90 and 100 per cent activities. Solution: Particulars Budgeted Hours Variable Expenses Semi-Variable Expenses Fixed Expenses Total Expenses Recovery Rate Per Hour 70% 7000 1260 1200 1800 4260 0.61 80% 8000 1440 1200 1800 4440 0.55 90% 9000 1620 1320 1800 4740 0.53 100% 10000 1800 1440 1800 5040 0.50 30 Difference between Fixed and Flexible Budget: Fixed Budget Flexible Budget It does not change with actual volume of It can be recasted on the basis of activity activity achieved. Thus it is known as rigid level to be achieved. Thus it is not rigid. or inflexible budget. It operates on one level of activity and under It consists of various budgets for one set of conditions. It assumes that there different levels of activity. will be no change in the prevailing conditions, which is unrealistic. Here as all costs like fixed, variable and Here analysis of variance provides useful semi-variable are related to only one level information as each cost is analyzed of activity so variance analysis does give useful information. If the budgeted and actual activity levels differ Flexible budgeting at different levels of significantly, then the aspects like cost activity facilitates the ascertainment of ascertainment and price fixation do not give a cost, fixation of selling price and tendering correct picture. of quotations. a meaningful basis of not according to its b ehaviour. Comparison of actual performance with It provides budgeted targets will be meaningless comparison of the actual performance with specially when there is a difference the budgeted targets. between the two activity levels. 31 BIBLIOGRAPHY 1 ICAI Module on Cost Accounting 2 Newsletters and opinions published by ICAI 3 http://en.wikipedia.org/wiki/Budget 4 www.icai.org

The Euro Scepticism In The Uk Politics Essay

The Euro Scepticism In The Uk Politics Essay United Kingdom, also known as the UK, is a sovereign state consisted of England, Wales, Scotland and Nothern Ireland. The relationships between the UK and the European Union have still been complex. Indeed, UK has benefited from a specific status in the EU. However, a recent poll showed that a majority of British people would agree for leaving the EU. How to explain that scepticism about the European expansion? Firstly, we will talk about the historical place of UK in Europe since the end of World War II. Then, this will lead us to develop the current affairs about the euro-scepticism in the UK. Eventually, we will conclude with the potential consequences of a British exit. Historical part After the end of World War II, the nationalist sentiment was strengthened in the UK. Indeed, the UK was the only state which resisted against Nazism for one year. British people saw the new European Union as a losers coalition. Moreover, a large consensus existed in the country and both, the labor party and the conservative party, agreed about this. Thats why, when the six pioneers (France, Belgium, Italia, Federal Republic of Germany, Luxembourg, and the Netherlands) first asked UK for joining the union in 1950, the labor party which was in power at the time, refused the offer in order to protect its coal and steel industries. During the fifties, encouraged by the USA, UK changed its position and became in favor of a free trade area. However, UK didnt want to a customs union and the agreement fell through. In 1961, at the same time as the Republic of Ireland and Denmark, the conservative Prime Minister Macmillan decided to open some negotiations to enter the European Union. However, France through De Gaulle was opposed to this idea. He vetoed the entry for political reasons such as the American influence over UK for example. So, two applications for membership were turned down in 1963 and 1967. The resignation of De Gaulle in 1969 will mark a fresh start for UK/EU relationships. After two unsuccessful applications for membership, Edward Heath who was Prime Minister took the United Kingdom into the European Community in 1973. The Labor party, led by Harold Wilson, was obviously against that choice and promised to hold a referendum to leave EU if they won the next elections in 1974. In 1975, after the rise to power of the Labor party, a referendum was held. Eventually, British people voted to stay in the European Community. On one hand, the Labor Party became even more interested in Europe when some social issues were raised by European laws. On the other hand, the Conservative Party gradually started turning against the idea of euro-integration, which accelerated with their new leader from 1975, Margaret Thatcher. Margaret Thatcher, who became Prime Minister in 1979, openly expressed her very negative attitude towards the EEC. The period of her service was marked by an increasing political isolation of Britain from Europe. She was ardently against complete economic, political and social integration. She argued that Britain contributed much more to the European budget than the other countries and she thought that something had to be done about it. In response, in 1984 Margaret Thatchers government negotiated a rebate on the British contribution, and thus received some of its money back. The main reason for this was the fact that a great share of the European budget is spent on the Common Agricultural Policy and since farming does not represent a major sector in the UK economy, Britain felt that it benefited much less than other countries. Also, for Margaret Thatcher, Britain was losing its independence and sovereignty by transferring the power of decision-making to Brussels. During the nineties, Margaret Thatcher and her successor John Major lead heavy negotiations about the European expansion. The conservative party feared to lose a part of the British identity and its countrys sovereignty. John Major was often isolated with the European partners during the European negotiations. Moreover, a part of the british population was becoming euro-sceptic and lobbied the government. As a result, the UK by John Major and his conservative government only accepted some parts of the Maastricht Treaty in 1992. Indeed, they refused two essential points: the social chapter (which will be signed in 1997 by the Tony Blair and his Labour government), and most of all, single currency. Besides, for example, UK (such as Ireland) has also negotiated opt-outs from the individuals area of free movement called Shengen and continues to operate systematic border controls with other EU members. This is the whole of these particularities which make this so specific status of the UK in the Europe Union. The Current affairs Since the beginning of the year, the euro-scepticism in the UK has returned centre-stage. Indeed, a speech of David Cameron, UKs prime minister, and a recent poll opened the controversy about the UKs position in the European Union again. Although he ruled out the idea of a In/Out referendum in the 14th of January on the famous BBC, David Cameron, the conservative Prime Minister of UK, eventually announced that he wanted to give a simple choice between staying or leaving the EU. So if Cameron wins next election, there will probably be a referendum before 2017. The Euro-sceptics, very numerous in the Conservative Party, welcomed this news as a result of a long campaign for a vote. More accurately, David Cameron wants to renegotiate the agreement with Brussels and the British relationship with EU before giving British citizens the right to choose. Against the criticism which deplored that the referendum doesnt take place now, Cameron said holding such a referendum now would be a false choice because Europe was set to change following the euro-zone crisis and it would be wrong to ask people whether to stay or go before we have had a chance to put the relationship right. The British Prime Minister lived on the edge towards his European partners. Besides, this statement caused a lot of reactions by the European political establishment. French foreign minister, Laurent Fabius, warned : You cant do Europe a la carte to take an example which our British friends will understand imagine Europe is a football club and you join, once youre in it you cant say Lets play rugby. His German counterpart pronounced that Germany wanted the UK to remain an active and constructive part of the European Union but cherry picking is not an option before adding that Europe needed more, not less, integration. This Prime Ministers statement occurs while the population is calling into question the influence of the EU. Indeed, a recent poll showed that a majority (50%) of British people would accept the UKs exit from EU. Only 33% are opposed to that idea when 17% prefer to abstain. According to another poll, a majority of British people agree the Camerons decision of referendum. However, some political specialists see the referendum decision as a political move against the UK independence party, which is a euro-sceptic populist political party. This nationalist referendum could discontinue the increasing popularity of the Conservatives adversary. The consequences of such a withdrawal would be dire Exports The European Union is easily Britains biggest single export market, with 53 per cent of goods purchased by European nations in 2011. This sector of British economy, directly and indirectly, supports three million jobs. Norway, Iceland and Switzerland already sell goods through a free-trade agreement. The difference would be that the UK would not be able to set the rules that govern the European single market. It would, of course, have to implement those rules to keep selling into those markets though. The argument sometimes deployed by the euroskepticts is that leaving would, somehow, encourage British manufacturers to concentrate on exporting to the likes of China, Brazil and India. Imports Britain also imports a great deal from other nations in the EU more than it exports, in fact. In 2011, they exported  £159bn of goods to the EU and imported goods worth  £202bn an annual trade deficit of  £42bn. Their European partners argue that the UK needs Europe more than Europe needs them. The problem is that the UK import a lot of European goods, not because they are doing the Europeans a favour, but because people want to buy things that cannot be produced in Britain think of all those German cars and French luxury goods. If Britain decided to leave the EU, the Government might decide to impose large tariffs on European imports, but this probably wouldnt prove very popular. Immigration If Britain left the EU, the Government would not be required to permit the free movement of all citizens of the 27 nations of the union into Britain, nor their right to work here. About EU 165,000 citizens migrated to the UK in the year to September 2011, after 182,000 arrived in the 12 months to September 2010. Immigrants are an economic benefit for Britain, filling holes in the labour market and boosting overall productivity. But the free movement of people is two-way. An estimated 748,010 Britons live or work in the European Union. Many have holiday homes in France and Spain. If Britain decided to restrict inflows of EU citizens to Britain, the European Union would be likely to respond in kind. Banking Britain is fighting a Financial Taxation Tax, which is much of the rest of Europe supports. British bankers, for their part, are generally in favour of staying in the EU. They fear that their access to lucrative European capital markets could be impeded if Britain left the bloc. And both banks and businesses calculate that Britains EU membership is in their interests because the EU can help to open foreign markets such as China up to them more effectively than the UK acting alone. Politics Europe is more social democratic than the UK. They feel Europe is helping to undermine Britains social and economic freedoms. Yet there are global politics to consider, too. The right wants to rely on Britains special relationship with the US, but Washington prefers Britain to work in closer partnership with the EU. Rising Asian giants such as India and China also seem to regard Britains membership of the EU as a good reason to build economic and diplomatic ties with us. Conclusion To sum up, opinion polls show that most Britons are in favour of leaving the European Union. Britain has long had ambivalent feelings towards the European club it joined in 1973. They were sceptical about big projects like the single currency. At a summit of European leaders on December 8th, David Cameron refused to agree to a fiscal compact designed to safeguard the euros future. But opponents argue that a medium-sized power like Britain can only exert international influence through the EU.

William Shakespeare :: English Literature

William Shakespeare The Globe William Shakespeare was one of the most famous play writers of all time. He was born in Stratford-upon-Avon in England more than four hundred years ago. At the young age of eighteen Shakespeare wedd a woman by the name of Anne Hathaway whom was eight years older than him. Together they had a daughter called Susanna and twins Hamnet and Judith. Shakespeare decided to start travelling and to go to London. Luckily for Shakespeare just before he went to London, theatres had been opened for travelling actors for they weren’t respected and a man by the name of James Burbage wanted to change that. He did this so that actors could gain more dignity. This led to the first public playhouse being built in England. This playhouse was a great success and was very popular so gradually more and more were built. In a playhouse there were three tiers of galleries which looked down to the yard where most of the audience stood. For it was only a penny to stand in the yard whereas in the gallery benches it was two pence. To sit on cushions in the gentlemen’s rooms it was three pence and for six pence the well-off would sit in the Lords room. The stage came out into the yard and was open to the sky. Over the back of the stage ran an upper stage and beneath the upper stage was what was known as the tiring house. The tiring house was concealed from the audience by a curtain which would be drawn back to reveal an inner stage. There weren’t any large curtains to conceal the whole stage so all scenes on the main stage began with an entrance and ended with an exit so in tragedies the dead must be carried away. The fact that there was no scenery meant that there were no limits to the number of scenes as when a scene came to an end then the characters would just simply leave the scene. The audiences loved Shakespeare’s plays. Hundreds of people would squeeze into the theatre with their food and drink to watch. Sadly a deadly plague interrupted the theatres success and meant that for two years all playhouses were closed. During this time Shakespeare wrote several plays and two long poems. In 1597 the theatre was forced to close after twenty one years for it was on rented land and the agreement with the landowner had ended. The landowner wanted to keep the playhouse to himself and to reuse its valuable oak timber but that wasn’t the plan of the two brothers who

Best Day Essay

Have you ever felt the emotion when you are going to see your favorite band or singer alive in a concert. This happened to me when I went to Sofia last year to see one of my favorite singers Enrique Iglesias. It was fantastic experience that I will never forget. The day was near, it was ten days befor the concert, and every day I asked my father for permission and money. One day he finally said â€Å"yes†, and he gave me the money. He told me that it was the gift for my birthday. I was so happy and immediately called my friend to tell her about the news. The next day we bought our tickets and we were waiting for the big day.We couldn’t believe that we would be in the most waited concert on September 29th , we never thought that in few hours, we would sing all the song of our favorite singer. When we arrived,we sat in the chairs, and we were waiting for Enrique. The lights turned off and all the auditory screamed like they were crazy. The orchestra began to play one of my favorite songs. The best singer appeared in the scene. That moment was so awesome and exciting for me, and everyone was all of the songs. In conclusion, I will tell tha, the concert was a big experience for me and I was so happy. At the end, we bought some souvenirs from the concert, like a shirt, some posters and a cup. The concert finished at 12 p.m. and we came back to our town with an experience that I will never forget. I will remember this moment as if it had been yesterday.

The Fourteen Points of Woodrow Wilson

The Fourteen Points of Woodrow Wilson The Fourteen Points were a set of diplomatic principles developed by the administration of President Woodrow Wilson during World War I. These were intended as a statement of American war aims as well as to provide a path to peace. Highly progressive, the Fourteen Points were generally well received when announced in January 1918 but some doubt existed as to whether they could be implemented in a practical sense. That November, Germany approached the Allies for a peace based on Wilsons ideas and an armistice was granted. In the Paris Peace Conference that followed, many of the points were set aside as the need for reparations, imperial competition, and a desire for revenge on Germany took precedence. Background In April 1917, the United States entered World War I on the side of the Allies. Previously angered by the sinking of Lusitania, President Woodrow Wilson led the nation to war after learning of the Zimmermann Telegram and Germanys resumption of unrestricted submarine warfare. Though possessing a massive pool of manpower and resources, the United States required time to mobilize its forces for war. As a result, Britain and France continued to bear the brunt of the fighting in 1917 as their forces took part in the failed Nivelle Offensive as well as the bloody battles at Arras and Passchendaele. With American forces preparing for combat, Wilson formed a study group in September 1917 to develop the nations formal war aims. The Inquiry Known as the Inquiry, this group was headed by Colonel Edward M. House, a close advisor to Wilson, and guided by philosopher Sidney Mezes. Possessing a wide variety of expertise, the group also sought to research topics that could be key issues at a postwar peace conference. Guided by the tenets of progressivism which had steered American domestic policy during the previous decade, the group worked to apply these principles to the international stage. The result was a core list of points which stressed self-determination of peoples, free trade, and open diplomacy. Reviewing the Inquirys work, Wilson believed that it could serve as the basis for a peace agreement. President Woodrow Wilson addresses Congress on January 8, 1918. Public Domain Wilson's Speech Going before a joint session of Congress on January 8, 1918, Wilson outlined American intentions and presented the Inquirys work as the Fourteen Points. Largely drafted by Mezes, Walter Lippmann, Isaiah Bowman, and David Hunter Miller, the points stressed the elimination of secret treaties, the freedom of the seas, limitations on armaments, and the resolution of imperial claims with the goal of self-determination for colonial subjects. Additional points called for the German withdrawal from occupied parts of France, Belgium, and Russia as well as encouragement for the latter, then under Bolshevik rule, to remain in the war. Wilson believed that international acceptance of the points would lead to a just and lasting peace. The Fourteen Points as set forth by Wilson were: The Fourteen Points I. Open covenants of peace, openly arrived at, after which there shall be no private international understandings of any kind but diplomacy shall proceed always frankly and in the public view. II. Absolute freedom of navigation upon the seas, outside territorial waters, alike in peace and in war, except as the seas may be closed in whole or in part by international action for the enforcement of international covenants. III. The removal, so far as possible, of all economic barriers and the establishment of an equality of trade conditions among all the nations consenting to the peace and associating themselves for its maintenance. IV. Adequate guarantees given and taken that national armaments will be reduced to the lowest point consistent with domestic safety. V. A free, open-minded, and absolutely impartial adjustment of all colonial claims, based upon a strict observance of the principle that in determining all such questions of sovereignty the interests of the populations concerned must have equal weight with the equitable claims of the government whose title is to be determined. VI. The evacuation of all Russian territory and such a settlement of all questions affecting Russia as will secure the best and freest cooperation of the other nations of the world in obtaining for her an unhampered and unembarrassed opportunity for the independent determination of her own political development and national policy and assure her of a sincere welcome into the society of free nations under institutions of her own choosing; and, more than a welcome, assistance also of every kind that she may need and may herself desire. The treatment accorded Russia by her sister nations in the months to come will be the acid test of their good will, of their comprehension of her needs as distinguished from their own interests, and of their intelligent and unselfish sympathy. VII. Belgium, the whole world will agree, must be evacuated and restored, without any attempt to limit the sovereignty which she enjoys in common with all other free nations. No other single act will serve as this will serve to restore confidence among the nations in the laws which they have themselves set and determined for the government of their relations with one another. Without this healing act the whole structure and validity of international law is forever impaired. VIII. All French territory should be freed and the invaded portions restored, and the wrong done to France by Prussia in 1871 in the matter of Alsace-Lorraine, which has unsettled the peace of the world for nearly fifty years, should be righted, in order that peace may once more be made secure in the interest of all. IX. A readjustment of the frontiers of Italy should be effected along clearly recognizable lines of nationality. X. The peoples of Austria-Hungary, whose place among the nations we wish to see safeguarded and assured, should be accorded the freest opportunity of autonomous development. XI. Rumania, Serbia, and Montenegro should be evacuated; occupied territories restored; Serbia accorded free and secure access to the sea; and the relations of the several Balkan states to one another determined by friendly counsel along historically established lines of allegiance and nationality; and international guarantees of the political and economic independence and territorial integrity of the several Balkan states should be entered into. XII. The Turkish portions of the present Ottoman Empire should be assured a secure sovereignty, but the other nationalities which are now under Turkish rule should be assured an undoubted security of life and an absolutely unmolested opportunity of an autonomous development, and the Dardanelles should be permanently opened as a free passage to the ships and commerce of all nations under international guarantees. XIII. An independent Polish state should be erected which should include the territories inhabited by indisputably Polish populations, which should be assured a free and secure access to the sea, and whose political and economic independence and territorial integrity should be guaranteed by international covenant. XIV. A general association of nations must be formed under specific covenants for the purpose of affording mutual guarantees of political independence and territorial integrity to great and small states alike. Reaction Though Wilsons Fourteen Points were well received by the public at home and abroad, foreign leaders were skeptical as to whether they could be effectively applied to the real world. Leery of Wilsons idealism, leaders such as David Lloyd George, Georges Clemenceau, and Vittorio Orlando were hesitant to accept the points as formal war aims. In an effort to gain support from the Allied leaders, Wilson tasked House with lobbying their behalf. Prime Minister David Lloyd George. Library of Congress On October 16, Wilson met with British intelligence chief, Sir William Wiseman, in an effort to secure Londons approval. While Lloyd Georges government was largely supportive, it refused to honor the point regarding freedom of the seas and also desired to see a point added regarding war reparations. Continuing to work through diplomatic channels, the Wilson Administration secured support for the Fourteen Points from France and Italy on November 1. This internal diplomatic campaign among the Allies paralleled a discourse that Wilson was having with German officials which began on October 5. With the military situation deteriorating, the Germans finally approached the Allies regarding an armistice based on the terms of the Fourteen Points. This was concluded on November 11 at Compià ¨gne and brought an end to the fighting. Paris Peace Conference As the Paris Peace Conference began in January 1919, Wilson quickly found that actual support for the Fourteen Points was lacking on the part of his allies. This was largely due to the need for reparations, imperial competition, and a desire to inflict a harsh peace on Germany. As the talks progressed, Wilson was increasingly unable to garner acceptance of his Fourteen Points. Prime Minister Georges Clemenceau. Library of Congress In an effort to appease the American leader, Lloyd George and Clemenceau consented to the formation of the League of Nations. With several of the participants goals conflicting, the talks moved slowly and ultimately produced a treaty which failed to please any of the nations involved. The final terms of the treaty, which included little of Wilsons Fourteen Points on which German had agreed to the armistice, were harsh and ultimately played a key role in setting the stage for World War II.

Reagan Doctrine essays

Reagan Doctrine essays There were many things that lead up to the creation of the Reagan Doctrine, which was supposed to help stop a major conflict in the world. Many years before this doctrine was created, there were a major conflict that began with the Communist. Most of the Communistic activities at this time was in the Soviet Union (Russia). In a Communistic nation, the government rules every part of the peoples live, which takes away their freedom and liberty. People who live in it are like slaves who work for the government. Later on, Communism tried to spread to bring all the nations in the world under the rule of a Communistic government. They tried to slowly control each nation one by one, starting with the weak ones, until the Communistic government conquered the whole world. Many tried to resist these foes, and the nations who did were called the Free World, which was mainly led by the United States. Great Britain was another Free World nation. They were also trying to stop Communism. Other countries that were between these two great forces were called the Third World. This side consisted of many different nations around Asia, South America, and Africa. Most of the nations in the Third World were poor. Some of the people in the Third World angrily opposed Communism while others happily accepted it. Even some citizens in one nation might be against each other. To gain allies on their sides, each of the great forces tried to gain them by giving out financial aid or assistance to the Third World nations. This conflict which began about 1945 was know to be called the Cold War. This ongoing conflict between the free word and Communist lasted for a long time. Unlike other wars, which was fought mostly with heavy military weapons and fast actions, this war was mostly fought with words, diplomacy, ideology, and argument. Of course, there were some battles with weapons but not as muc...

Free Essays on Life Space Crisis Intervention

Due to the behavioral difficulties that SIE 7, Emotionally Disturbed students pose to their families as well as their teachers, parents have come to our school seeking help in managing their children's behavior at home. I believe that the following conflict resolution and behavior management program can be extremely useful for both pedagogues and parents alike. Life Space Crisis Intervention (LSCI) has been proven to be an extremely effective program for crisis intervention and conflict resolution. District 75 has adopted this program as one of the premier programs for helping teachers deal with aggressive and disrespectful behavior. It is within our means to have teachers trained in LSCI and then, in turn, have these trained LSCI teachers give workshops for parents in our after school program. LSCI is a therapeutic program for using crisis situations as an opportunity for children to learn alternative behavior for their patterns of aggressive, disrespectful, or self-demeaning behavior. LSCI is based in cognitive, behavioral, and social psychology. The original strategy was created by Fritz Redl and David Wineman. William Morse and Nicholas Long then refined that model. It is their book, Life Space Intervention: Talking To Children in Crisis (Long, Fescer & Wood, 2001), which provides the framework for the training. Children in crisis - whether angry, manipulative, anxious, fearful, or depressed - need skilled and caring teachers and parents who can help them break away from conflict cycles and conduct problems. When managed ineptly, a crisis leads to a devastating cycle of disruptive behavior, hostility, violence and alienation. If a crisis is handled well, it may be able to provide a window of opportunity to learn new ways of thinking, feeling and behaving. LSCI helps both youths and adults learn to disengage from self-defeating patterns and to develop responsible, pro-social values and behavior. Traditional crisis... Free Essays on Life Space Crisis Intervention Free Essays on Life Space Crisis Intervention Due to the behavioral difficulties that SIE 7, Emotionally Disturbed students pose to their families as well as their teachers, parents have come to our school seeking help in managing their children's behavior at home. I believe that the following conflict resolution and behavior management program can be extremely useful for both pedagogues and parents alike. Life Space Crisis Intervention (LSCI) has been proven to be an extremely effective program for crisis intervention and conflict resolution. District 75 has adopted this program as one of the premier programs for helping teachers deal with aggressive and disrespectful behavior. It is within our means to have teachers trained in LSCI and then, in turn, have these trained LSCI teachers give workshops for parents in our after school program. LSCI is a therapeutic program for using crisis situations as an opportunity for children to learn alternative behavior for their patterns of aggressive, disrespectful, or self-demeaning behavior. LSCI is based in cognitive, behavioral, and social psychology. The original strategy was created by Fritz Redl and David Wineman. William Morse and Nicholas Long then refined that model. It is their book, Life Space Intervention: Talking To Children in Crisis (Long, Fescer & Wood, 2001), which provides the framework for the training. Children in crisis - whether angry, manipulative, anxious, fearful, or depressed - need skilled and caring teachers and parents who can help them break away from conflict cycles and conduct problems. When managed ineptly, a crisis leads to a devastating cycle of disruptive behavior, hostility, violence and alienation. If a crisis is handled well, it may be able to provide a window of opportunity to learn new ways of thinking, feeling and behaving. LSCI helps both youths and adults learn to disengage from self-defeating patterns and to develop responsible, pro-social values and behavior. Traditional crisis...

Systems maintainence Research Paper Example | Topics and Well Written Essays - 750 words

Systems maintainence - Research Paper Example Theoretically, a reliable product is completely free of any technical errors. In practical world, there is no an ideal system (Huo, Zhang, Wang, & Yan, 2005). The reliability-Centred Maintenance Reliability-Centred Maintenance, simply called RCM is a system improvement approach that focuses on identifying and fixing the maintenance, operational and capital enhancement policies that would manage the dangers of equipment failure in the most effective way (Hauge & Johnston, 2001). It is a framework that facilitates the definition of a total maintenance regime. It considers maintenance as the means through which the functions required by a user are met. As a discipline, RCM enables machinery stakeholders to observe, predict, asses, and in general terms understand the working of their practical assets (Douglas & Greg, 1997). This is included in the first part of the RCM procedures that involves identifying the operating context of the given system, and document a Failure Mode Effects and Critically Analysis Applying the â€Å"RCM logic† is the second part of the analysis, which helps to establish the suitable maintenance tasks for the spotted failure modes of FMECA. Immediately the logic is complete for the entire FMECA elements, the outcome of the maintenance are â€Å"packed† in order for the task periodicities to be rationalized and be called up in the work packets. However, it is vital not to demolish the maintenance applicability at this stage. Lastly, it is advisable for RCM to be kept live during the entire â€Å"in-service† machinery life, where the efficiency of the maintenance is reviewed constantly and adjusted as per the experience obtained (Douglas & Greg, 1997). The RCM method can be used to recognize the most effective way to utilize resources for medical system maintenance. It involves spotting out actions that when applied, will decrease the possibility of failure and that are more cost-friendly. It seeks the best mix of Conditi on-founded actions, a Run-to Failure, or Time-or-Cycle-Based operations approach. Reliability-Cantered Maintenance is a continuous process that collects data on uses and performance of data to enhance planning for maintenance in future. These maintenance methods, rather than being used independently, are put together to take advantage of their respective powers to optimise equipment/departmental operation and competence within a particular resource constraint (Huo, Zhang, Wang, & Yan, 2005). RCM approach employs Planned Preventive Maintenance (PPM), repair, proactive maintenance methods, and Predictive Testing and Inspection. (PT&I) techniques are an integrated way to increase the likelihood that a medical component or device will work in the required way over its design life-cycle. The aim of this approach is to offer the required availability and reliability at the lowest cost possible. It necessitates that maintenance decisions be founded on the requirements justified by economic and technical support. Like for any approach, there are numerous processes or paths that lead to an eventual end. This is especially a reality for RCM, where the results of failure can differ dramatically (Hauge & Johnston, 2001). Define supportability and how it is used in the system design process Supportability refers to the level to which the design features of a support or standby system meet the operational needs of a firm (Yu, Li, Jia, & Li, 2012). In

Describe the relationship between the controlling function and other Essay

Describe the relationship between the controlling function and other managerial functions - Essay Example This essay will discuss the relationship between managerial control and other managerial functions, explain some of possible reasons why many people view controls negatively, and discuss the three primary steps involved in the control process. There is a very close relationship between managerial control and the other functions of management namely planning, coordinating, organizing, and directing. For instance, without proper planning, controlling activities in an organization can be baseless, while ineffective controlling can make planning a meaningless exercise. Proper management involves starting with planning or laying down strategies, organizing the available resources, coordinating the various departments in an organization, and finally implementing proper controlling measures (DuBrin, 2012). All these managerial functions reinforce each other and they can only be said to be inseparable. Employees in an organization usually view controls negatively with some going to an extent of claiming that managements should not exercise any type of control whatsoever. Most people claim that managements should be supporting employees’ efforts to be productive members of an organization, rather than imposing control systems for them, which they believe are counterproductive to both the employees and the general management. Research studies focusing on establishing people’s reaction towards the management control indicate that most people find management control as a way of dominating them, being coercive as well as heavy-handed (Daft, 2011). Setting performance standards is the first and most crucial step of any control process. In this context, standards refer to the targets or plans that have to be accomplished in the course of a business function, or the criterion for judging the overall performance in an organization. The standards set can either be measurable (tangible), or non-measurable (intangible) (Newton, 2011). Tangible standards refer to

Approaches to studying climate disease connection; policy implications Assignment

Approaches to studying climate disease connection; policy implications of health, climate, extreme weather - Assignment Example There also exist the climate-inspired predictive approaches of transmission of diseases deemed infectious. Each approach adds value to the expansion of the inter-field efforts that aim to highlight influence of climatic changes and intense weather patterns on distribution of infectious diseases and trends of transmission. Chapter 4 analyses the implications of policies formulated and implemented in relation to the health effects of climatic changes and extreme weather occurrences. These policies are based on the basis of human mobility and patterns of migration of infectious diseases and as expected, the policies and mitigation efforts need to adopt more process-connected approaches rather than reaction/outcome based approaches. However, challenges touch on the public health implementations that seek to address climatic change implications and long overdue spotlight on single-disease threats as opposed to ‘long-term and systematic stresses’ that yield wide ranges of health implications. The above named website was created by the Climate Change Connection which is a Non-Governmental Organization that aims at educating people about climatic changes and also facilitates climate dynamic

Pricing Decisions Essay Example | Topics and Well Written Essays - 1000 words

Pricing Decisions - Essay Example Article 5 aims to find out the methods of setting prices which are dominating Slovenian business practice. Introduction The articles deal with the pricing practices and strategies in various businesses. As stated in article 1, the businesses and consumers have perfect knowledge of the marketplace but actually they lack the perfect knowledge. This makes the establishment of a pricing policy necessary. Article 2 is based on examining pricing for new product price decisions. It is basically the study of the three pricing practices with respect to competition, costs, and customer value. Article 3 states that products have been divided into four categories such as specialty, preference, convenience, and shopping. The research in this article is basically on the pricing strategy for the various product categories. The relevant strategy was selected as per the literature of the paper that is penetration and skimming strategy. Article 4 deals with the pricing of a short license for software service. Earlier, firms in this industry used to do the pricing based on the usage of resources. As computer hardware became fast and cheap the business model remained no more significant. With the recent spread of complex enterprise software, the cost of software maintenance and deployment has increased again. Therefore, the pricing scheme had been termed as subscription pricing. Article 5 states that pricing is not the most important but is just one of the elements of marketing mix. Inspite, managers complain quite often about the problems and pressures arising due to pricing of competitors, it is stated in the article that pricing is rarely a problem. It states that pricing should be such that the perceived value of the product or service should supersede the perceived price. Importance of the study Article 1 focuses on determining whether small firms use the same established economic principles that economists rely on while explaining the behavior of large firms with regards to pricing strategies and objectives. The study basically is conducted in order to determine whether the economic principles are appropriate for small businesses or not. Article 2 is significant because it deals with the aspects of new product pricing practices. The research paper assesses the ways pricing can be done for a new product. It is important from the perspective of a manager as its becoming difficult for managers to analyze the correct price for the value they are providing to their consumers. Article 3 deals with the aspects of pricing of various product categories which could help attain the corporate objectives of the firm. It is important because pricing should be done on the use of the product. The product category such as convenience products cannot be priced higher as because of the presence of many low cost producer firms in the industry. The research is ideal for serving as a starting point for a developing a framework of corporate objectives, pricing strategies, an d product categories. Article 4 is important because it is related to software pricing. The pricing strategy the researchers are focusing on is basically usage-based pricing wherein the firms will be able to acquire low usage consumers as they do not have to pay more than they use. Article 5 is important as the research is on pricing based on cost or customer. Literature Review Paper 1 In the year 2011, Dunn et.al conducted a study on â€Å"

WSJ.com only Essay Example | Topics and Well Written Essays - 250 words - 1

WSJ.com only - Essay Example Most companies intended to increase their capital expenditures in order to enhance their efficiency and to improve logistic needs, which are very essential to the growth of any company. Recession is one of the most challenging concepts in finance and economics. Scott presents a succinct explanation on how recession impacted US companies and the entire US economy. Reading and analysing financial articles especially with regards to figures are quite challenging. One thing I find difficult and challenging in this article is the use of figures and graphs. Most of the graphs and figures on the performance of the companies and the entire economy is complex. Scott also says that most US companies survived recession, created jobs and contributed to the economic growth but at the same time stating that US jobs reduced and levels of unemployment went high. The analysis is also not clear given that most companies, which collapsed were not included in the

Starbucks Coffee Company Analysis Essay Example | Topics and Well Written Essays - 3000 words

Starbucks Coffee Company Analysis - Essay Example Starbucks Corporation is a US based company and is engaged in the business of purchasing and roasting whole coffee beans. It is regarded to be one of the premier brands of speciality coffee retailing in the world and operates its business in more than 50 countries of the world. Starbucks is headquartered at Seattle, Washington and was founded in the year 1971 (Yahoo Finance, 2012a). Its stocks are traded on NASDAQ Global Select Market with the ticker symbol â€Å"SBUX†. Starbucks is one of the fortune 500 companies of the world and has been ranked 229th in the fortune 500 list for the year 2012 (CNN Money, 2012). For the fiscal year ended October 2011, the US segment accounted for around 69% of the total revenues generated by the company (Starbucks Corporation, 2012). The revenues are generated in United States mainly through the licensed stores and company operated stores run by the company all over the country. Starbucks mainly operates its business in the speciality eaterie s industrial segment of US economy and has a market capitalisation of around $34.9 billion (Yahoo Finance, 2012b). ... Various strategic analysis tools like PESTEL, Porter’s Five Forces, etc. would be utilised to attain the objectives of this study. TASK A – Market Environment Analysis PESTEL Analysis PESTEL is an external environmental analysis tool, which is used for analysing the political, social, technological, economical, legal and environmental factors associated with an organisation like Starbucks (Henry, 2008, p.51). PESTEL analysis is particularly useful in analysing the macro environment associated with a business organisation. The PESTEL analysis of Starbucks (Appendix - 1) with respect to its US business segment is presented below: 1. Political Factors: Political factors do have some impact in the speciality coffee industry of United States because the green coffee beans are actually needed to be imported from other countries that are characterised of having tropical climate which is needed to grow coffee. Hence, if the trade relations that exist between US and the supplier country get deteriorated then this industry could have a negative impact on it. 2. Economical Factors: The recent economic downturn in US economy because of the Global Financial Crisis (GFC) is having a significant negative impact on the speciality coffee industry. Speciality coffee is generally considered to be a luxury good. Hence with the decrease in income levels of consumers in US, they tend to switch over to other lower cost substitutes available to them. Moreover the increasing prices of the commodities in the market are also having an adverse impact on this industry. 3. Social Factors: Social trends are also observed to have a significant impact on the speciality coffee industry in the United States. The coffee culture has evolved in the

Pricing Decisions Essay Example | Topics and Well Written Essays - 1000 words

Pricing Decisions - Essay Example Article 5 aims to find out the methods of setting prices which are dominating Slovenian business practice. Introduction The articles deal with the pricing practices and strategies in various businesses. As stated in article 1, the businesses and consumers have perfect knowledge of the marketplace but actually they lack the perfect knowledge. This makes the establishment of a pricing policy necessary. Article 2 is based on examining pricing for new product price decisions. It is basically the study of the three pricing practices with respect to competition, costs, and customer value. Article 3 states that products have been divided into four categories such as specialty, preference, convenience, and shopping. The research in this article is basically on the pricing strategy for the various product categories. The relevant strategy was selected as per the literature of the paper that is penetration and skimming strategy. Article 4 deals with the pricing of a short license for software service. Earlier, firms in this industry used to do the pricing based on the usage of resources. As computer hardware became fast and cheap the business model remained no more significant. With the recent spread of complex enterprise software, the cost of software maintenance and deployment has increased again. Therefore, the pricing scheme had been termed as subscription pricing. Article 5 states that pricing is not the most important but is just one of the elements of marketing mix. Inspite, managers complain quite often about the problems and pressures arising due to pricing of competitors, it is stated in the article that pricing is rarely a problem. It states that pricing should be such that the perceived value of the product or service should supersede the perceived price. Importance of the study Article 1 focuses on determining whether small firms use the same established economic principles that economists rely on while explaining the behavior of large firms with regards to pricing strategies and objectives. The study basically is conducted in order to determine whether the economic principles are appropriate for small businesses or not. Article 2 is significant because it deals with the aspects of new product pricing practices. The research paper assesses the ways pricing can be done for a new product. It is important from the perspective of a manager as its becoming difficult for managers to analyze the correct price for the value they are providing to their consumers. Article 3 deals with the aspects of pricing of various product categories which could help attain the corporate objectives of the firm. It is important because pricing should be done on the use of the product. The product category such as convenience products cannot be priced higher as because of the presence of many low cost producer firms in the industry. The research is ideal for serving as a starting point for a developing a framework of corporate objectives, pricing strategies, an d product categories. Article 4 is important because it is related to software pricing. The pricing strategy the researchers are focusing on is basically usage-based pricing wherein the firms will be able to acquire low usage consumers as they do not have to pay more than they use. Article 5 is important as the research is on pricing based on cost or customer. Literature Review Paper 1 In the year 2011, Dunn et.al conducted a study on â€Å"

Starbucks Coffee Company Analysis Essay Example | Topics and Well Written Essays - 3000 words

Starbucks Coffee Company Analysis - Essay Example Starbucks Corporation is a US based company and is engaged in the business of purchasing and roasting whole coffee beans. It is regarded to be one of the premier brands of speciality coffee retailing in the world and operates its business in more than 50 countries of the world. Starbucks is headquartered at Seattle, Washington and was founded in the year 1971 (Yahoo Finance, 2012a). Its stocks are traded on NASDAQ Global Select Market with the ticker symbol â€Å"SBUX†. Starbucks is one of the fortune 500 companies of the world and has been ranked 229th in the fortune 500 list for the year 2012 (CNN Money, 2012). For the fiscal year ended October 2011, the US segment accounted for around 69% of the total revenues generated by the company (Starbucks Corporation, 2012). The revenues are generated in United States mainly through the licensed stores and company operated stores run by the company all over the country. Starbucks mainly operates its business in the speciality eaterie s industrial segment of US economy and has a market capitalisation of around $34.9 billion (Yahoo Finance, 2012b). ... Various strategic analysis tools like PESTEL, Porter’s Five Forces, etc. would be utilised to attain the objectives of this study. TASK A – Market Environment Analysis PESTEL Analysis PESTEL is an external environmental analysis tool, which is used for analysing the political, social, technological, economical, legal and environmental factors associated with an organisation like Starbucks (Henry, 2008, p.51). PESTEL analysis is particularly useful in analysing the macro environment associated with a business organisation. The PESTEL analysis of Starbucks (Appendix - 1) with respect to its US business segment is presented below: 1. Political Factors: Political factors do have some impact in the speciality coffee industry of United States because the green coffee beans are actually needed to be imported from other countries that are characterised of having tropical climate which is needed to grow coffee. Hence, if the trade relations that exist between US and the supplier country get deteriorated then this industry could have a negative impact on it. 2. Economical Factors: The recent economic downturn in US economy because of the Global Financial Crisis (GFC) is having a significant negative impact on the speciality coffee industry. Speciality coffee is generally considered to be a luxury good. Hence with the decrease in income levels of consumers in US, they tend to switch over to other lower cost substitutes available to them. Moreover the increasing prices of the commodities in the market are also having an adverse impact on this industry. 3. Social Factors: Social trends are also observed to have a significant impact on the speciality coffee industry in the United States. The coffee culture has evolved in the

Estimating the Demand for Money Essay Example for Free

Estimating the Demand for Money Essay We all know that money employed in consumption sustains life and gives pleasure, but it does not lead to economic growth. Money employed for investment increases productive capacity, thereby increasing wealth available for consumption investment in the future. Use of money for both consumption investment leads to employment but later reaps future benefits. The quantity theory of money posits that the value of money is equal to the collective supply of goods and services in an economy. The value of money could be called the aggregate clearing price for the aggregate supply aggregate demand in an economy. A condition in which the aggregate clearing price is below the aggregate costs of production would be symptomatic of gross misallocations of resources in an economy but this kind of condition is not theoretically impossible. Ending of wars that includes cold wars are often associated with massive reallocations of productive resources and these reallocations can involve painful periods of readjustment. â€Å"Artificial bubbles† resulting from central banker manipulation of money and interest cause boom bust misallocations. Regarded money as nothing but a means to facilitate barter, the aggregate supply of goods and services represents the wealth of society. If everyone woke up one morning to find every dollar replaced by one hundred dollars, no one would be wealthier or poorer because wages and prices had two additional zeroes. Nor would there be any change in either aggregate supply or demand. The concept of aggregate supply to represent the wealth of society can be misleading. Most homeowners would sell their house if offered an outrageously high price for it. In that sense, nearly all existing homes are part of the aggregate supply. But in the normal course of events, homeowners are slowly consuming their houses by living in them and are not considering an immediate sale although the thought of eventual re-sale is usually in their minds. Similarly, most capitalists would sell their factories if offered a high price, but are primarily focused on increasing the productivity of those factories and ensuring that the factories produce goods for which demand is high. Money works magic in the minds of many economists which transform simple relationships into complex conceptual nightmares. Say’s Law one monetary interpretation holds that the costs of production (paid for labor, land and capital goods) results in the incomes essential for purchasing output. Moving this argument further, critics of Says Law express concern that all the income will not be spent concerning that some money will be saved or even hoarded. Thinking that it is better to save the money than to spend it that result to manufacturing decline, unemployment and recession. But the confident consumer who saves and invests actually benefits the economy more than the consumer who spends. Invested capital provides the means to hire labor and other factors of production that increase employment and wealth. Vision of economic activity as a circular flow of money between spenders earners blinded him to the nature of wealth-creation, productive incentives, productivity increase and economic growth. The economic benefits of savings should not be justified on the grounds that savings is another form of spending. On the contrary, savings is the source of capital accumulation. Capital technological progress is the source of economic growth. Capital means plant, equipment, technology, research and employees to make new products. Consumers can only keep an economy from recession if they are employed in productive activity. If unemployment is low and those employed are producing useful goods services, then an economy can remain healthy. High consumer spending is more an effect than a cause of the economic well-being associated with low unemployment. Consumer confidence is expected to be high if unemployment is low. Recession is not just a national bad mood. Unemployed consumers who spend money received from government destroy consume wealth without producing wealth. Economic growth occurs only if the consumer is also a producer. In empirical method it determines the relationships between economic variables through observation or experiment. The Baumol-Tobin model provides the foundation for most empirical studies of money demand. The Capital Asset Pricing Model, while important in financial economics, is viewed to be much less important in determining money demand. Most wealth is shifted under the speculative motive from long-term to short-term securities rather than money. The prices of short-term bonds do not change as much as long-term bonds and there is a default risk with money because of the limit to federal insurance on deposits. One of the difficulties in empirical work on money demand is that money demand adjusts to changes in income and interest rates with a lag. In other words, a change in income leads to a delayed change in money demand. Money demand may be slow to change because of adjustment costs, expectations may be slow to adjust or may hold that a change in income or interest rates is in part temporary. Consequently, empirical studies of money demand look at both short-term and long-term responses to changes in macroeconomic conditions. An increase in the interest rate reduces the demand for M1 money as expected, but the effect is small. An increase in the interest rate from 4 to 5 percent (a 25 percent increase) reduces money demand in the short run by 0. 5 percent (= 0. 02 x 25%). The long run response is about a 1. 25 percent reduction in money demand. An increase in the interest rate from 10 to 11 percent produces even smaller money demand responses. There is an extensive literature on the theory of money demand and the influencing factors. In general, the real money balances are related to some scale measure, such as income or wealth, and some opportunity cost measures, such as inflation, interest and exchange rates. There are various discussions on the form of the money demand function and the selection of the variables entering in the equation. Thus the choice of economic indicators varies in different country experiences due to the distinction in different financial systems. The choice of an appropriate monetary aggregate for the estimation of a meaningful money demand function is complicated. Either a broad or a narrow definition of money can be used as the monetary variable depending on the issue of the monetary authorities. Generally it may be thought that a narrow definition of money like monetary base or M1 tends to be more flexible and reactive to market operations and thus to interest rate policies. Narrow money can have a close relationship with prices since it can easily be influenced by economic variables, however it cannot always be adequate to capture all the information related to the financial system. Although narrowly defined aggregates are easy to control, their relationship with income appears subject to considerable variability. One main cause of this insufficiency is due to banking habits of money holders, as they wish to hold their savings not only in demand deposits, but also in time deposits or other different financial instruments. For that reason, a broader definition of money, such as M2 or M2X, can comprise a wider range of the financial system; however it may be less sensitive to the changes in the economy. The scale variable measuring the level of economic activity is the first determinant of the money demand function. The holding of money and thus the demand for money are related to the volume of the transactions, using the fact that the amount of the transactions is proportional to the level of income. Either a wealth variable or an income variable can be used as a scale variable. Generally, when wealth data is not available, an income variable like the Gross National Product or Gross Domestic Product can be taken into consideration. Money demand is directly proportional to income, but inversely related to market interest rates and yields on different financial assets. The interest rate concerning time deposits is thought to be the nominal return of holding money if the broad definition of money is considered, hence has a positive sign in the money demand equation. Another important variable which measures the rate of return of an opportunity cost is the interest rate on government securities. As currency substitution can occur either by switching into foreign denominated deposits or by switching to bonds or securities, the rate of interest on government securities is a measure of the rate of return of an opportunity cost, and its expected sign in the equation is therefore negative. The relationship between inflation and the demand for money has been studied widely. If there are high fluctuations in prices, the rate of inflation becomes an important determinant of the money demand function. Money demand is inversely related to predictable inflation rate since an increase in inflation increases the cost of holding money. Especially, in developing countries, the long run inflation elasticity is generally expected to be high as the range of financial instruments outside money is limited and real assets represent a substantial part of the public’s portfolio (Nachega, 2001). Like in Turkish economy that is subject to not only a high degree of price level but also a high variability in the prices, the price level has a considerable impact on the return of financial assets; as money holders will have difficulties in predicting the prices, the risk in saving money will raise and consequently the holding of money will tend to decrease. Since foreign exchange rate measures the rate of return on holding foreign currency, it is also an important determinant in the demand equation on holding foreign currency. The sign of exchange rate is negative since when the deposit holders increase their demand for foreign currencies, the domestic currency will depreciate. In an open economy, the return of foreign assets is usually denoted by some exchange rate variable, which may have an increasing role due to the high level of financial globalization. (Central Bank Review, 2002 pp. 55-65). Boughton (1992) presents the sources of disturbances that can affect the elasticities of variables in the long run equation. Inflation expectations varying over time is the first important factor that may affect real return of assets which is a vital element of the money demand equation. An inflationary expectation is generally proxied by the inflation rate, thus it is essential to examine the inflation data before inserting in the money demand equation. The change in exchange rate is the second important source of variability. Therefore the relationship between the exchange rate mechanism and the dynamics of real money balances is important, justifying the addition of the real effective exchange rate into the model.