Summative Coursework Assignment Essay Example | Topics and Well Written Essays - 4000 words

Summative Coursework Assignment - Essay Example Generally Accepted Accounting Principles (GAAP) is dealing with various accounting principles and guidelines for undertaking the implementation of accounting practices. But on the other hand, financial accounting is also important for evaluating the profitability of the business entity. Accounting is a system used by the business entity to measure its financial performance. There are several branches of accounting are available, but among them both management and financial accounting is relevant. The main emphasis in management accounting is to establish the relationship between cause and effect of a particular activity. More over, it is multi disciplinary in nature, because it is a combination of several disciplines like financial accounting, cost accounting, statistics, etc. In this case, the net profit of the company is goes on increasing, but at the same time, the cash in hand is decreasing to certain extend. Cash is a critical asset, which plays an important role in business. Cash flow statement is a statement showing the change in cash position from one period to another. Because it is possible to identify the causes of changes in cash balance between the two balance sheet dates. While preparing cash flow statement mainly it is essential to consider both actual cash flows and notional cash flows. Cash Flow Statement For the year ended 2002 Particulars Amount (in m) Cash used in operation. Issue of shares. Cash generated Add: Opening cash balance Cash balance at the end (1) 6 5 4 9 Calculation of Cash from operation Particulars Amount (in m) Net profit Add: provision for taxation. Funds from operation. Add: decrease in debtors. Less: decrease in creditors. Cash used in operation. 4 6 10 8 18 (19) (1) Adjusted Profit and Loss Account Particulars Amount (in m) Particulars Amount (in m) Provision for taxation. Depreciation of FA (balancing figure) Closing balance 6 14 (6) Opening balance Funds from operation. 4 10 14 14 Workings:- Here, there is no disposal of assets takes place in the year 2001 and 2002, therefore the difference between the value of assets in both years are considered as the amount of depreciation, such as- [166_152] = 14m. Propose Dividend Account Particulars Amount (in m) Particulars Amount (in m) Cash (dividend paid) Closing balance 7 9 Opening balance. Balance transferred to Profit and loss account. 7 9 16 16 While preparing the cash flow statement of a business organization, it is possible to understand about the causes of changes in the cash flow position of a business unit. Through which, it is possible to identify that the reduction of cash balance inspite of increase in income or for increase of cash balance in spite of decrease in income. This statement consists of opening cash balance and all sources of cash and all applications of cash and ends with the closing balance of cash. More over, here the changes in current assets and current liabilities are adjusted in the amount of cash from operation. It is necessary for a firm to keep adequate amount of cash in hand for making immediate payments. The major responsibility of the financial manager is to plan cash and maintain adequate cash balance. A cash flow statement is considered as a summarized cash account. In addition to this,

History Women's History Museums Essay Example | Topics and Well Written Essays - 2000 words

History Women's History Museums - Essay Example Consequently, museums have become forums for different voices and viewpoints to be heard.2 With this, a new space for determining what constitutes museum artifacts and displays has emerged in the late 20th century on to the 21st century where historical research, the communities which they are located and museum standards interact to give way to dynamic representations of objects, people and ideas. Nowhere has the impact of these developments originated and in turn continue to enrich and widen in scope than in the field of women's history. In taking advantage of the opportunities presented by museums to carry women's history (the Museum of Victoria for example is visited by one million people), Lisa Dale wrote that we should all be involved in how history is presented.3 Interpreting and presenting women's history however according to Dale should go beyond being an intellectual sport. Museum historians need to work hand in hand with academic historians and scholars to devise methods so as to present to the public complex historical realities. A case of such cooperation is seen in the current oral history project of the Museum and La Trobe Library where students of Women Studies will conduct interviews in South Melbourne covering the period from the 1920s to 1970.4 The application of feminist theory has largely driven the changes the way historical realities are portrayed in museums, not... Seeing history through the lens of feminism and feminist theory Treating museums as text, curator as author and visitors as readers has enabled historian Gaby Porter to critique the set-up of museums where the representation of objects in display take precedence over unraveling of historical truth. She takes off from poststructuralist theory and on to a feminist approach where the relations of women and women are analyzed in the context of museums. 5 In traditional museums, relative to men's representation which are active, highly developed, articulated - women's historical History-Women's History Museums contributions are passive, shallow, muted and undeveloped.6 When viewed from a feminist perspective, museums ought to go beyond the seeming objectivity of displays to subjective spaces of interaction between visitors and the museum space and all its underlying processes of selection and representation. The historical truth becomes less solid as meanings are never permanent and are negotiable. The scientific and the artistic disciplines tend to blend, and themes depart from strictly chronological orientation7. For example in the exhibition called Putting on the Style at the Geffrye Museum in London, the display of homes in the 1950s resonated more of the personal lives of those who lived there rather than of the people's respective social status.8 On the other hand, the Story of Hull and Its People, the permanent exhibition at Hull Museum traces history over the last two hundred years yet shows more notably the cyclical passage from birth to death of people who were relatively unknown. 9 An even more forward

Bradtech Limited Company Essay Example | Topics and Well Written Essays - 1000 words

Bradtech Limited Company - Essay Example Apart from this the balanced scorecard focuses on integrating the output or performance different departments and units of the organisation in order to generate more effective consolidated end result (Lawrie & Cobbold, 2004). In this case analysis, the initial process of balanced scorecard has been utilised i.e. the generation of the important performance measures and indicators for the company. If the organisation will review and monitor these performance indicators on regular basis then there will be better control over the overall output and profits of the organisation. Overview of the Company: Bradtech is a subsidiary of another manufacturing company. It is currently facing a very stiff environment. The company under capital constraint from the parent company needs to expand its current capacity. But to this decision are affecting further conditions also: one of the major products of the company is losing its utility and thereby is facing a shrinking market; the other product alt hough new has its own set of constraints. One major constraint is its ability to be customised which requires prior ordering before manufacturing; this entails a vibrant supply chain which unfortunately the company does not have. All these restraints are not allowing the company to operate or compete effectively. Key Factors which should be Considered by Bradtech: Bradtech should prepare counter measures for the shrinking market share of its flagship product (product A). Whereas for its other product (product B), which needs to be customised as per the buyers demand, the company should adopt a pull based strategy to avoid inventory holding cost (Northcott and Smith, 2011). For this it needs to restructure its supply chain and make it vibrant, sensitive and efficient. Other key factor which should be considered is: relationship build with customers; who demand on time delivery, honest technical advice, good quality and product reliability. The company should come up with some form of competitive advantage at the service level to gain customers and prevent getting engaged in price competition. The company should keep track of its processes and try to minimise cost to raise its profit margins. For product A, it can be assumed that no new competitor will enter the market, looking at the current market crisis, so Bradtech should offer some sort of price benefits to capture more market share. Bradtech also has to utilise its capacity optimally because it is highly unlikely that it would receive additional funds to expand its current capacity. In this endeavour the company needs to undergo stringent capacity and space planning. The company also need to keep its parent company interested in its operations because if the parent company starts to believe that the Strategic Business Unit (SBU) is creating more trouble than it could handle, than the parent company may start thinking about divesture. Other key factor to consider would be the rising buyers’ power and the buyers’ tactics to play one supplier against other. Since the product has no additional offering the company will keep facing this

Define term Strategic organization and Credibility in public speech Essay

Define term Strategic organization and Credibility in public speech - Essay Example Michelle Griffin in her video, â€Å"Strategic Organization Road Map† defined strategic organization as the development of organization’s objectives structured in a logical and systematic manner to achieve desired organization’s results. The best example of strategic organization can be of sharing the mission statement of the organization with stakeholders. The information structured in the report offers good amount of information on the organization’s mission and its long term objectives. The specific audience here is stakeholders and specific result is to attain future goal and objectives through shared ideas and strategies. Thus, it is very much clear that strategic organization is often perceived as the study of an organization’s strategies based on the management decisions. However, in public speech it is also perceived as putting ideas and information together in a manner that is easy to understand and deliver. It caters to the need of specific people in a systematic manner. It is a process that is developed through the understanding of internal and external environment to reap desired value and benefits. In literal sense, credibility is defined as the quality of being believable and trustworthy among others in the personal and professional world. Credibility needs trust and belief that differs from person to person and thus making the whole process of being trustworthy; a complicated one. However, this complexity is eliminated by being honest and clear with one’s ideas and perception along with having a compassionate nature embedded with convincing power and skills. It needs to be understood that people find it difficult to accept the credibility of an individual without assessing his talent and potential. The assessment of one’s skills and potentials offers belief and trust that redefines credibility in a contrasting manner. Tracy Goodwin in her video, â€Å"Persuasive Speaking Tips: Credibility in Persuasive

Bradtech Limited Company Essay Example | Topics and Well Written Essays - 1000 words

Bradtech Limited Company - Essay Example Apart from this the balanced scorecard focuses on integrating the output or performance different departments and units of the organisation in order to generate more effective consolidated end result (Lawrie & Cobbold, 2004). In this case analysis, the initial process of balanced scorecard has been utilised i.e. the generation of the important performance measures and indicators for the company. If the organisation will review and monitor these performance indicators on regular basis then there will be better control over the overall output and profits of the organisation. Overview of the Company: Bradtech is a subsidiary of another manufacturing company. It is currently facing a very stiff environment. The company under capital constraint from the parent company needs to expand its current capacity. But to this decision are affecting further conditions also: one of the major products of the company is losing its utility and thereby is facing a shrinking market; the other product alt hough new has its own set of constraints. One major constraint is its ability to be customised which requires prior ordering before manufacturing; this entails a vibrant supply chain which unfortunately the company does not have. All these restraints are not allowing the company to operate or compete effectively. Key Factors which should be Considered by Bradtech: Bradtech should prepare counter measures for the shrinking market share of its flagship product (product A). Whereas for its other product (product B), which needs to be customised as per the buyers demand, the company should adopt a pull based strategy to avoid inventory holding cost (Northcott and Smith, 2011). For this it needs to restructure its supply chain and make it vibrant, sensitive and efficient. Other key factor which should be considered is: relationship build with customers; who demand on time delivery, honest technical advice, good quality and product reliability. The company should come up with some form of competitive advantage at the service level to gain customers and prevent getting engaged in price competition. The company should keep track of its processes and try to minimise cost to raise its profit margins. For product A, it can be assumed that no new competitor will enter the market, looking at the current market crisis, so Bradtech should offer some sort of price benefits to capture more market share. Bradtech also has to utilise its capacity optimally because it is highly unlikely that it would receive additional funds to expand its current capacity. In this endeavour the company needs to undergo stringent capacity and space planning. The company also need to keep its parent company interested in its operations because if the parent company starts to believe that the Strategic Business Unit (SBU) is creating more trouble than it could handle, than the parent company may start thinking about divesture. Other key factor to consider would be the rising buyers’ power and the buyers’ tactics to play one supplier against other. Since the product has no additional offering the company will keep facing this

Economy assignment ( apply econmoinc rational for health services) Essay

Economy assignment ( apply econmoinc rational for health services) - Essay Example Empowering the public through provision of goods includes provisions for vaccines and other preventive tools that the public can use, independently or with the help of care personnel, to reduce chances of infections. Similarly, the government can employ services to educate the public on possible self-base care that reduces prevalence of disease and infections towards a healthy society. All these initiatives involve economic concepts of generation of goods and services, their transfer and a final application to ensure achievement of healthcare goals. The most applicable economic tools that identify significance of the government’s role and how such a role should be played are scarcity of resources, and monopoly as a market structure (Folland, Goodman and Stano, 2012). Scarcity that defines limited supply of resources relative to demand is a universal factor among resources. The sensitivity of healthcare however demands that such a scarcity be overcome by ensuring that necessary resources are put in place for a healthy society. Consequently, the government should use its capacity to ensure availability of resources for healthcare preventive measures, resources that would otherwise be very scarce if left in the hands of the private sector. The necessary goods and services for educating and empowering the public would therefore be expensive due to market forces of demand and supply. The scarcity of healthcare resources and necessity of such needs therefore demands that the government provides the required goods and services, directly or indirectly, to ensure that the resources are available and are affordable for preventive measures (Folland, Goodman and Stano, 2012). Even though monopoly ensures quality, the lack of competition may lead to delays in supply. As a result, the government should promote a competitive market for the supply of intellectual services and goods for

Research resources Essay Example for Free

Research resources Essay There are many resources that a student of accounting can refer to enrich his accounting knowledge and arm him/her with useful and practical experience in the accounting field. These materials are available both online and offline both subscribed and unsubscribed. These are online and offline libraries. Questia, an online library of books and journal available at http://www. questia. com/index. jsp, is a site that provides an opportunity to access books, journal and materials for all subjects and topics ranging from arts to science, and from arts to law. These materials are available to an individual upon subscription. They are accessed through the keying of the title or the required article or any phrase in that text. Athens and Amazon. com are other resources that contains rich informative and educative materials. The amazon. com, the site that allows access to useful textbooks and journals is available online at http://www. amazon. com/books-used-books-textbook/b? ie=UTF88node=283155. It is an online company that sells books. Athens is also available online at http://www. athens. ac. uk. Accounting information will be accessed by keying in the relevant topics. The Google scholar too will provide easy access to accounting materials on any trouble-some topic. There are also many textbooks and journals available in the library. New Vistas in Accounting – Vol 1, 2003, a book authored by D. G Prasuna is a textbook that provides a general outline on the major concepts in accounting and their usefulness on understanding the accounting practices and activities. Accountants handbook, volume 1, financial accounting and general topics, 11th edition, edited by D. R. Carmidiael (2007) among other scholars is a conglomeration of witty and remarkable tips on the basics of accounting, the standards an regulations as well the basics of reporting statement. Specific Sources In this research discussion Scofield Barbara (1994) in his article published by the national public accountant, titled:Full Disclosure of Interest Capitalization Decisions, he provides useful insights on the GAAPS standards on interest capitalization, shedding the light on the confusions arising from the requirements in the standards, their appropriateness and their shortcoming. This information is available online at http://www. allbusiness. com/accounting/436577-1html. The IASC foundation education website available at http://www. lasb. org/NR/rdon/yres/189CA297-4D7Epdf has a summary of the IAS regulations. In this case they were specifically touching on borrowing costs then definition and what they generally encompass. www. arthurconsulting. com/financialspecial6. htm, website by the Arthur consulting, Inc on financial analysis, gives useful tips on accounting for the impairment of long lived assets. It gives circumstance and events that are indicators that an asset has impairment as well as the criterion for impairment recognition. An international accounting journal by authors; Street D. L, Nicholas N. B, Gray S. J, titled: Assessing the Acceptability of International Accounting Standards in the U. S. An Empirical Study of the Materiality of U. S GAAP Reconciliations by Non-US companies complying with IASC standards (2000), from this page 22-63 gives a summary of GAAP standards in comparison with other international standards on accounting. It provides information that can help understand accounting standards and practices better. Domestic Accounting Standards,Iinternational Accounting Standards and the Predictability of Earnings (2001), an accounting research journal by Ashbough, Hollis, Pinces and Morton (2001) examines the variations of the various international standards and the accuracy associated with reporting using each standard. Ann Tarca (2004), in the Journal of International Financial Management and Accounting, article titled: International Convergence of Accounting Practices, Choosing between IAS and US GAAP. She samples different reporting by accountants using the different standards: GAPP and IAS and how specific firms prefer one standard over another. William Dorms (2003) in his book Finance and Accounting for Non Financial Managers. He provides all the basics you need to know. He provides an insightful outline of the basics in accounting in the different topics of intermediate accounting focusing especially on financial management and financial statement analysis. Essentials of Managerial Finance: Principle and Practice (1981). It is a large book of 807 pages authored by Steven E. Bolten and Robert Lawrence conn. It gives useful knowledge on the most troublesome on accounting. All the above source although not enough will arm a student with almost all information that he or she requires to gain basic knowledge on principles and practices of accounting. Recommendations A fresh student of intermediate accounting would need to take a glance at reading materials that provide information on the basics of accounting. This will arm him/her with information that will aid in understanding the basic concepts and accounting practices. These books and journals are available on the internet and in our library. Students will need to take detailed notes on these topics they find relevant to their studies. Having a look at the sample and published financial statements by the various firms and multinationals will give a practical hint on the application of this theoretical knowledge and affirm the need for accuracy and consistency in accounting. On specific cases for discussion, a student should ensure that they have conducted enough research for the specific topics. Keying in the title of these topics on the authoritative websites such as Google scholar and Questia will provide vital linkages to a wealth of sources and information. Many students at the introductory stage of accounting have come to me for assistance. I have assisted them by giving them the above information as well as demonstrating to them physically on how to search for information from our library as well as from the electronic journals and libraries. References Scofield Bartara, April 1st 1994. Full disclosure of interest capitalization decisions. The national public accountant. Pg. 1. Accessed on 21/08/07. Available online at http://www/allbusiness. com/accounting/436577. 1html IAS Borrowing Costs. Technical Summary. IASC foundation education. Accessed on 21/08/07. Available online at http://www. iasb. org. NR/rdonlyres/189CA297-4d7E-4826-80bc-3876874AS44/0/1as23pdf Financial analysis, 2002. Accounting for the impairment of long-lived assets. Arthur consulting group, Inc. Accessed on 21/08/07. Available online at http://www. arthurconsulting. com/financialspecial6. htm Ash Baugh, Hollis, Pincees, Morton, Dec. 2001. Domestic accounting standards, international accounting standards, and the predictability of earnings. Journals of accounting research. Blackwell publishing. Financial accounting standards board. Accessed on 21/08/07. Available online at http://www. fash. org.