Management accounting and Cost Samples for Students-Myassignment

Questions: 1.Identify the three Major Cost elements in the cost of a Product or Service. Define each and give examples. 2.Give three Examples of Products where more detailed recording of Costs is required and three examples of products where averaging techniques may be appropriate. 3.What will be the monthly cost of renting a manufacturing plant? 4.Should overtime payments be treated as direct labour, or as overhead? Explain. 5.Your Employer is Contemplating changing the existing traditional costing systems used in the Business to adopt activity based Costing (ABC). See your text page.Prepare a Business Report outlining the traditional Costing System and Evaluate arguments for and against ABC. Answers: 1.Three crucial elements in the cost of a service or product are Labour cost: thus cost involves the fund that is given to the labours for constructing or producing any product. The examples for the workers include the machine operators, assembly line workers and installation clerks. Material cost: this cost refers to the cost of material that is actually used for the production of the particular product. For example, wood and nuts used in the building construction. Overhead cost: these costs are associated with the process of manufacturing and exclude the labour and raw material funding. For instance, any rebuilding and maintenance cost of the manufacturing procedures (Meixell, Kenyon Westfall, 2014). 2.Three products where more detailed approach of costing are required are the purchase cost, sales and the cost of inventory. These costs required more detailed recording as they are vulnerable to frauds, errors and misstatement. Three products where average detailed recordings are required are the insurance cost, legal expenses and interest income as these items are less vulnerable to misstatement and do not involve the decision making strategies of the users of financial reports. 3.The monthly cost of renting a manufacturing plant is A conversion cost and a period cost The reason for this is that the cost that is incurred for manufacturing other than the labour and material cost are known as conversion cost and rent is accounted as period cost 4.Overtime payment is paid as additional payment apart from the normal wage. Therefore, it is not included under the labour cost and is accounted as the indirect labour cost and is added under the manufacturing overhead cost. Thus, the overtime payment is not accounted as direct labour and is accounted as overhead cost and added in the manufacturing overhead (Samuel, 2015). 5.Activity based costing against the Traditional costing system Introduction Activity based costing that is referred as ABC verifies all the activities that are related with the production and allocate the cost to those activities and then calculates the product cost. On the other hand, the traditional approach allocates cost to the products based on the average rate of overhead. Under this method, all the indirect costs from production are taken into account and then allocate those costs across all the cost drivers equally through using one suitable driver of cost like machine hours (Mahal Hossain, 2015). Discussion ABC approach is more accurate as compared to the traditional approach as it takes into account all the crucial factors before allocating a cost to the product. However, this method is a bit complex in nature and takes more time. It is more methodical and accounts the non-manufacturing expenditures like the managerial costs and administrative expenses. On the other hand, the traditional costing approach is easier as compared to the ABC approach as it allocates cost based on the average rate of overhead (Haddadi, D., Hassan Seyednezhad, 2015). Conclusion It is concluded from the above facts that where the accuracy is important, ABC approach shall be used there, even if it is costlier and where the time is limited and the accuracy is not so important, traditional approach may be used. References Haddadi, D., Hassan, M., Seyednezhad, M. J. (2015). Comparative study of traditional and activity-based costing in forging companies of Iran tractor. Meixell, M., N. Kenyon, G., Westfall, P. (2014). The effects of production outsourcing on factory cost performance: an empirical study.JournalofManufacturingTechnology Management,25(6), 750-774. Mahal, I., Hossain, A. (2015). Activity-Based Costing (ABC)An Effective Tool for Better Management .Research Journal of Finance and " target="_blank"Accounting,6(4), 66-73. Samuel, S. W. (2015). Working Overtime: Who Really Benefits.

Boot Camp Debate Essay Example For Students

Boot Camp Debate Essay In any of todays society no matter where you look there will be some evidence of crime present. This statement derives from a sociologist theory that says no society can exists without crime. The government is constantly looking for new ways to deal with these reoccurring problems. The focus has been placed upon the government to look into young offenders and the style used to punish them. Weapons possession is quite common among the youth, at least in urban Canada, between one-third and one quarter of students surveyed indicated that they had carried some form of weapon at school over the previous year. Data drawn from Statistics Canada has revealed that the number of reported incidents of violent crimes by males aged 12-17 have risen 64% and more than doubled for females during the decade beginning in 1989 and ending in 1999. A study conducted in Southern Ontario, exploring student perceptions of violence in schools, revealed significant levels of fear relating to possible victimisation. It is these more serious crimes involving young offenders that the government has been forced to deal with. Many suggestions have been made and many bills have been voted on but still no sure fire solution to the problem exists. The latest idea brewing in Parliament is the use of boot camps to punish young offenders; however others believe sending young offenders to boot camp is not the answer and there are more efficient ways to correct their negative behaviour. The newest brain-storm that politicians have dwelled upon is sending young offenders that commit serious offences to boot camp. The first question that comes to mind is what is a boot camp? A boot camp is an alternative place to send youths between the ages of 12-17 who commit serious criminal offences. Boot camps have five basic goals: (1) incapacitation, (2) deterrence, (3) rehabilitation, (4) reduction of prison costs and crowding, and (5) punishment (Colledge Gerber, 1998). These facilities are designed to resocialize the bad-boys and bad-girls into citizens that will be accepted back into society. The plan is to use a military style to punish the kids and in return teach them discipline and transform them back to law abiding citizens . Punishment ranges from rigorous exercise running extra laps around the barracks with a pack on, combinations of sit-ups, chin-ups and pushups reduced meals or meals outdoors, and work detail, such as digging a whole alone outside for a week (Simpson, 1996, p. A1). The government feels that with these military style boot camps the percentage of violent crimes by young offenders will begin to decrease. On the other hand, there is another group of people who do not support the idea of installing a boot camp system into the criminal legislation. First of all the idea of boot camps was instituted in Britain. The results were not even close to what the British Government expected. There was barely even a change in the reduction of the percent of young offenders involved in violent crimes. This raises the thought of what will make the results in Canada any different from those found in Britain. The people against boot camps seem to be believers in the fact that jail and boot camps arent the best way to punish a young offender. Instead, they said, there needs to be a stronger focus on discouraging conditions which lead to criminal behaviour through school and neighbourhood programs. And when a crime is committed by a 12-17 year old, there should be alternative punishments to jail (Honywill, 1996, p. N1). The critics of boot camps also believe that to stop crime there has to be a lot more attention paid to prevention and nothing else. Dr. Mark Sandford of McMaster University, said anti-social behaviour takes many years to develop and cannot be solved by quick solutions such as jail or the so-called boot camps, where young people are forced to do strenuous labour during a period of incarceration (Honywill, 1996, p. 2). .ud9086c32da787230f5aa3603f3bfaa4d , .ud9086c32da787230f5aa3603f3bfaa4d .postImageUrl , .ud9086c32da787230f5aa3603f3bfaa4d .centered-text-area { min-height: 80px; position: relative; } .ud9086c32da787230f5aa3603f3bfaa4d , .ud9086c32da787230f5aa3603f3bfaa4d:hover , .ud9086c32da787230f5aa3603f3bfaa4d:visited , .ud9086c32da787230f5aa3603f3bfaa4d:active { border:0!important; } .ud9086c32da787230f5aa3603f3bfaa4d .clearfix:after { content: ""; display: table; clear: both; } .ud9086c32da787230f5aa3603f3bfaa4d { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ud9086c32da787230f5aa3603f3bfaa4d:active , .ud9086c32da787230f5aa3603f3bfaa4d:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ud9086c32da787230f5aa3603f3bfaa4d .centered-text-area { width: 100%; position: relative ; } .ud9086c32da787230f5aa3603f3bfaa4d .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ud9086c32da787230f5aa3603f3bfaa4d .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ud9086c32da787230f5aa3603f3bfaa4d .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ud9086c32da787230f5aa3603f3bfaa4d:hover .ctaButton { background-color: #34495E!important; } .ud9086c32da787230f5aa3603f3bfaa4d .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ud9086c32da787230f5aa3603f3bfaa4d .ud9086c32da787230f5aa3603f3bfaa4d-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ud9086c32da787230f5aa3603f3bfaa4d:after { content: ""; display: block; clear: both; } READ: Critical Thinking and Decision Making EssayThe decision the critics have come to is boot camps are not the right way to go and there has to be other options open for the punishment of young offenders. In relation to the alternatives for young offenders, places such as Custody Centers are an enhanced option to consider for the process of rehabilitating younger kids. The Prince George Youth Custody Center is a secure facility providing a full range of programs to allow youths to make maximal constructive use of their time while in custody (http://members. pgonline. com/pgycc/). The P. G. Y. C. C. s located in British Columbia and is responsible for the custody arrangements f or all the interior regions. All youths that are admitted into this center are between the ages of 12 and 17. The residents are responsible for their chores, laundry and personal hygiene, and on weekends school is replaced by a variety of programs that emphasise upon special events involving outside community groups. The Center also has many programs that the youths are to take part in. Some examples of these programs are Teen Drug/Alcohol Awareness, Violence Prevention, Psychological Counselling, Arts and Crafts, and Recreation. The programs are designed to help the young offenders in the specific areas that the youths seem to be lacking in mental and physical development. Help of this extent is not available in jail or boot camps; therefor the teenagers will have a lot of one on one counselling and most likely will be properly rehabilitated. Overall the Prince George Youth Custody Center presents a much better atmosphere in order to correct behaviour and resocialize the young offenders back into the community once their time in custody is completed. There are other alternatives for the rehabilitation of young offenders rather than shipping them off to prison or boot camps. The boot camps and prisons do not offer the youths the proper treatment needed to transform a person from a criminal back to a normal citizen of society. Places such as Custody Centers offer a more controlled and logical process of programs developed especially for the special kids sent to these places. It is believed that a program such as the P. G. Y. C. C. will ultimately be more effective in correcting the behaviour of young offenders and in conjunction lower the rate of youth crime around the country.

Longs Peak Essay Research Paper LONGS PEAKDeep free essay sample

Longs Peak Essay, Research Paper LONGS PEAK Deep in the bosom of the Rockies lies the little mountain small town of Estes Park, Colorado. Estes Park boundary lines Rocky Mountain National Park and it was my summer retreat. Never in my life had I seen someplace taken straight out of a fairy narrative. The mountains swallowed the town. One peculiar mountain instantly caught my oculus. I knew that it had to be the tallest, for it was the lone mountain that was still covered in May snow. I subsequently learned that the tremendous mountain was Longs Peak. Longs Peak happened to be a fourteener # 8221 ; , a Colorado mountain over 14 thousand pess. The mountain could be seen from every corner of the park every bit good as from distant metropoliss such as Denver or Boulder, which were good over 50 stat mis off. The mountain held an intense bewilderment for me. It reminded me of a Cardinals game, which I saw prior to my visit to Estes Park. We will write a custom essay sample on Longs Peak Essay Research Paper LONGS PEAKDeep or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Mark McGuire was coming up to bat, and dazes rippled down my spinal column when I saw him. An atomic power radiated from him. Even though there were several other participants on the field I merely could non maintain my eyes off him. Longs Peak besides stood caput and shoulders over the other participants. I had to mount Longs Peak before I left Estes Park. I felt a call that told me if I failed to mount the mountain I would be losing out on a life altering chance. Possibly I wanted to mount it because everyday when I went outdoors, it was the first thing I saw. Possibly I wanted merely to turn out to myself that I could make anything that I set my head and organic structure to. I am non certain what it was ; all I know is that it was invariably in the dorsum of my caput forcing me. Longs Peak is an highly hard and proficient ascent. It offers challenges to every degree of climbers, particularly to a shirker like myself. The trail is merely a small over eight stat mis long. It has a really steep lift addition of over four 1000 pess. The ascent takes over two yearss of intensely strenuous boosting. Water is the most of import thing in mounting ; the organic structure must stay to the full hydrated at all times in order to maximise best public presentation. It is highly insecure to mount entirely ; hence, my friend Bobby accompanied me on the expedition. We started our journey at midnight ; the dark air was cold, doing goose bumps to stream through my organic structure. The first portion of our pilgrims journey up Longs Peak would take topographic point in the dense forests. It was pitch dark and for hours the lone things I could see were my spouse s legs traveling rapidly in forepart of me. We had to roll up up in thermic cogwheel merely to remain warm and I knew that it would merely acquire colder as we gained lift. I could hear a distant watercourse dribbling down the mountain, and the heavy air current whistling through the trees. I began to experience butterflies in my tummy in expectancy for what lay in front of me. Our initial end was to make the tree line where we would take our first small interruption. The tree line normally occurs someplace around 12s thousand pess. The first three or four hours passed really rapidly, with no mark of the tree line. Had I misjudged how long it would take, or had we taken a incorrect bend someplace? We hiked on with increasing velocity in silence. We must hold hiked for 15 excess proceedingss before recognizing we were above the tree line. It was regenerating to cognize that our work was non ineffectual. We were rather exhausted and needed a interruption. H ow fantastic it was to sit on the cool stones and take the burdensome battalions from our dorsums. An unreal rush of energy pulsed through my organic structure. Upon looking up, an overpowering joy filled my psyche. I did non experience the heavy air current or the iciness in the air. All my attending was instantly focused on the slumbering metropoliss below. I felt the ubiquity of God staring from the celestial spheres. Yet it left me experiencing sad. Sad to cognize that the bulk of the people below would neer experience such satisfaction. After traversing the tree line we would get down tundra boosting. Tundra is a delicate ecosystem, which takes 1000s of old ages to maturate. To the common oculus it appears merely as dried up weeds. Upon closer scrutiny I noticed the 1000s of bantam flowers fixing to blossom. How similar this is to the existent universe. Peoples today would instead judge you based on your visual aspect than to truly take the clip to acquire to cognize you. The trails traveling through the tundra were highly developing, which proved to be # 8211 ; antagonize our promotion. We lost over a 30 minutes of cherished clip seeking to retrieve the trail. We reached the bowlder field, our 2nd end right before dawn. Stars one time bright began to submerge in a deep blue ocean. The mountains on the eastern skyline exhibited the first marks of the coming morning as ardent gold visible radiation framed each extremum. At the Boulder field our hiking began to intensify. The bowlder field is located straight below the olympian acme of Longs Peak. No longer would we be boosting over a smooth trail ; we didn t even have a trail to follow merely a finish ; up. Climbing the bowlder field proved to be an highly slow and painful procedure. Every musculus in my organic structure began to strain up from over usage. The air began to acquire thin forcing repeated interruptions. My organic structure ached to be place in my bed. This last stretch of the hiking took hours, and it seemed like yearss. When my spouse eventually pulled me over the border the merely thing I could make was lie level on my dorsum. The last thing I had to make before heading down was to look over what I had merely climbed. Nothing could quite fix me for what I was approximately to see when I looked over the acme of Longs Peak. The mountains captivated me and left me wholly and wholly awe struck by their sheer size. Never had I been through such a humbling experience. Directly in forepart of me I could see the celestial spheres, or my reading of what Eden was. The Continental divide twisted and turned majestically at my pess, crashing against the mountain as moving ridges would crash upon the coast. Large lakes, which I knew, appeared to be little bluish points. I am non certain if it was the lifting Sun or the whistle air current across my face, yet at that minute everything in my life seemed so undistinguished. The mountains stood for everything that was solid in life, the of import things. They are the pillars of being. We should all be so lucky to be like mountains, all knowing, of all time patient, and stone solid in our beliefs. To see mountains of this magnitude made me about ashamed of holding nil in my life permanent or solid to cleaving to. I realized that people are non mountains, and we will non be here everlastingly. This trip made me concentrate on what was of import in life and why we are even here in the first topographic point. Selfishness has no worth in forever. Nourishing our heads and psyche does affect everlastingly, merely like mountains.

Essay Topics for Competitive Exams

Essay Topics for Competitive ExamsIf you are a college student and want to know about the top essay topics for competitive exams, this article will give you some very useful information. Most students have tried taking different topics from the subjects that they study in college, but none of these topics have proved to be effective enough to give you a good grade.One of the top topics for competitive exams is writing essays on something very personal, which normally relates to the subject of your college course. Some of the best topics are the experiences that you have had in the past or your dreams and aspirations. Writing essays on these topics should help you to express yourself better.A second topic that you can use is the school you have been attending, because most students these days are obsessed with their college life. Using this topic will enable you to share with your friends and classmates some insights that you have from your previous school experiences. This will help you express how your college experience has impacted your life.An even better essay topic to use when you are preparing for competitive exams is the event that happened to you in the past. Write about what was the most exciting thing that happened to you during the time that you were studying. Also, try to write about something that is personal and something that you have experience doing. When you use these topics, you will be able to give a very good insight into your life and why it has been so challenging for you to move forward.Writing essays on your thesis is another very good topic for the top essay topics for competitive exams. Theses are also important to make your life interesting, so you can capture people's attention. It will take you some time to complete your thesis, so you need to write the best essay on your topic. You can write about things that are related to your thesis, or you can also try to research and find out about your topic.If you think that your essay top ics for competitive exams might be rather boring, then you can use a topic that will create some interest in you. Consider using an essay question that will help you think of a topic for your essay.For best results, when you are writing your top essay topics for competitive exams, start by making a list of topics that you can choose from. Then start by researching and trying to learn more about the topic. Start with the first topic and go through all the topics that you have chosen and think about it.Once you have selected the topics that you have chosen for your top essay topics for competitive exams, then you can put them together in a logical and structured way. Use examples that you can use when writing your essay to make it easier to understand.

Last of the Mohicans by James Fenimore Cooper essays

Last of the Mohicans by James Fenimore Cooper essays The Last of the Mohicans, a novel written by James Fenimore Cooper in 1826, details the lives of French, English, and native Americans during the early American colonial period. Set in North America, the novel discusses the conflict among races and nationality: English battling against the French forces, and native Americans battling for their territory over the two colonizers (French and English). The novel, more than a work of literature, is also a historical account of the lives of native Americans, the positive and negative members of its race, and the complex situation they faced when they were "dispossessed" by the colonizers. History determines the events surrounding the novel to have happened during the French and Indian Wars, which lasted for seventy-five years (1698-1763). The historical period where the events in the novel take place is characterized by "[m]assacres and scalpings traditional conceptions of honor yielded to the exigencies of the forests British and French combat was no longer a source of national unity but a divisive conflict in which loyalties were compromised and cultural values repeatedly transgressed" Apart from being a period of native American displacement and colonial rule, the Mohicans also confronts the issue of "Puritan New England," where race and culture takes a secondary priority over the issue of religious differences. In the novel, Cooper also depicts conflict between native Americans and its colonizers, particularly the English, where the latter experiences conflict and disagreement with the "savage ways" of the former, due to their primitive and pagan-like form of worship. Cooper's Mohicans, in consideration with all the important events that occurred as discussed above, is an example of a series of "Leatherstocking Tales," which depicts life and society in early America, particularly the dynamic con...

Management Theory and Practice Essay Example | Topics and Well Written Essays - 2500 words

Management Theory and Practice - Essay Example The people of different countries do depict changes in tastes and perceptions which are required by the business concerns to effectively tap and thereby bring about changes in the production or operating system. Similarly, in order to tap the different markets in a much effective manner, the business organization must adjust its different policies regarding both price and distribution. The business concern through the changing of their price structure helps in pervading the minds of the consumers in a more prolific manner. Moreover, the business concern should fulfill the different guidelines as envisaged by the government of the country while endeavoring to promote the different goods and services to a large number of consumers. Further, the business corporations in order to internationalize their operations need to gain a large pool of people working across the globe for the company. Working across different cultures and diversities require the business organizations to act in a pr udent fashion to help satisfy the needs of both the internal and external stakeholder groups like the employees, the group of suppliers, the consumers and social groups and the government at large (Yip, Loewe and Yoshino, 1988, p.1-8).... In the light of the above discussion the paper endeavours to analyse McDonald’s sense of adaptability to its changing business environment. Factors of Changes in Business Organisations The increasing mode of globalisation has required the business corporations to synchronize its business processes to adapt itself to the changing business environments. It is observed that business organisations to successfully operate in the global climate need to customize the product or service offerings on an expanded scale. The people of different countries do depict changes in tastes and perceptions which are required by the business concerns to effectively tap and thereby bring about changes in the production or operating system. Similarly in order to tap the different markets in a much effective manner the business organisation must adjust its different policies regarding both price and distribution. The business concern through the changing of their price structure helps in pervading th e minds of the consumers in a more prolific manner. Moreover the business concern should fulfil the different guidelines as envisaged by the government of the country while endeavouring to promote the different goods and services to the large number of consumers. Further the business corporations in order to internationalise their operations need to gain a large pool of people working across the globe for the company. Working across different cultures and diversities require the business organisations to act in a prudent fashion to help satisfy the needs of both the internal and external stakeholder groups like the employees, the group of suppliers, the consumers and social groups and the government at large (Yip, Loewe and Yoshino, 1988, p.1-8). McDonald in

The Gala Event at Four Points by Sheraton, Darling Harbour Essay

The Gala Event at Four Points by Sheraton, Darling Harbour - Essay Example The objective is to boost the morale of the employees and the stakeholders to achieve even higher growth. With this in mind, the even logo we suggest is the symbol of â€Å"ladder† which shall be maintained at all locations, transport, hotels rooms, convention center, dining hall or wherever the group would be moving. The stakeholders that would be arriving from outstation need special consideration. To ensure maximum participation, there has to be something exciting for the guests to look forward to. The invitation itself would have to stir their imagination and make them expect something different from the usual dinners and conferences. To generate a positive emotional response, a mystical invitation would be sent out. The symbol of the ladder would serve to show heights not just in the physical life but would indicate that the event would transport them to greater heights. To ensure they have a pleasant experience at the hotel, all arrangements would be in alignment with individual needs. The invitation would carry a form with simple questions seeking their choices in certain requirements which would be provided in their rooms. The rooms too would have the symbol of the ladder and the dà ©cor would emanate a WOW from them. We can assure they would carry the memories of the event at their subco nscious level and would remember it for a very long time. Importance of site selection and venue inspection is an important part of any event planning process. Importance has not been given only to the aesthetics or physical appeal of the venue but the facilities combined with relaxation have been considered. The venue is rich in character and meets the specific business or personal needs. The location of the event has been chosen as the clients want the dinner and accommodation to be at the same location. Australia’s largest hotel, Four Points by Sheraton is ideally located and has 650 rooms and 45 suites. Thirty suites and seventy rooms will be provided.