Management Accounting and how it can be defined Essay

Management Accounting and how it can be defined - Essay Example In other words a more complex definition of Management Accounting expands the simple one and states that the process of providing the information required by management for planning, Organizing and controlling for goals such as: ïÆ'  Recording, Analyzing and reporting on the actual cost and inputs of products, services and processes in which we are very much concerned and which is also our first question ïÆ'  Working with starting cost, function, standard of performance, revenue and quantity budgets, which is related to our second and third questions, ïÆ'  Evaluating Alternative Opportunities, this is last and fourth question. Starting with our first question and second question simultaneously, we will find out the Total Fixed Cost, Contribution Margin, variable cost and Brake Even Point Andre is running a hair cutting saloon in which 5 Barbers work for him 40 hours/week, 50 weeks/year and being paid $9.90 per hour regardless of the number of the haircuts and every one who has a h air cut gets his hair washed so the charger for the shampoo or hair wash is assumed to be already included in it which will come under fixed cost by which his Fixed Cost per year will be $99,000 and $1,750 is the rent and other fixed expenses per month which again comes under Fixed cost by which his Total Fixed Cost per year will increase by $21,000 and the Total Fixed Cost will be $120,000/year and $10,000/month (this calculation is done on yearly ¬Ã‚ ¬Ã‚ ¬Ã¯Æ'  monthly basis). ... Yearlymonthly basis (this calculation is done generally). As we now have our T.F.C i.e. $120,000 we have to calculate Break Even Point i.e. how many haircuts should be done so that we get $120,000 and i.e. 10,000haircuts/year should be done so that we don't get a loss and that is our B.E.P in units. Here there is no Variable cost i.e. no such sort of charges which will increase or decrease the total cost.Moving to our 3rd question i.e. if 20,000 haircuts are performed what will be the Operating income (profit), as we have calculated before our T.F.C i.e. $120,000 which will not change if we do either 1or 10,000 Haircuts/year. Assuming that the cost for one hair cut $12 and if we do 20,000 haircuts our income will be $240,000 and now subtracting the total expenses or T.F.C i.e. $120,000 we get an Operating income i.e. a profit of $120,000. As we have assumed $12/haircut we have included the taxes, Wages, rent, all the fixed expenses, the cost of shampoo and other required material in it. After all this we get a good profit of $120,000 if the saloon works as mentioned i.e. 50weeks/year and the barbers work for 40hours/week. Now for supporting this statement one barber works 2000hours/year as per the calculation and has to do a Minimum of 2haircuts/hour, 80haircuts/week if he works 8hours/day, 5days/week which is again 40hours/week and in 50weeks he can do 4000haircut, if similar calculation is done for the other 4 Barbers our task for 20,000 haircuts will be achieved. In our 4th and last question Andre decides to pay in a revised or in a different way i.e. by decreasing the Wages/hour and giving money/haircut. Andre decides to pay $4/hour i.e. fixed cost and $6/haircut which is

Understanding the Economic Impact prior to Wells Fargo Foreclosures Essay

Understanding the Economic Impact prior to Wells Fargo Foreclosures - Essay Example As a result of the crisis, many institutions, including those that are not directly involved in lending collapsed while others merged to stabilize amidst the crisisIn 2007, United States was hit by financial crisis, which emanated from a crisis in the subprime real estate loans (commonly called subprime crisis). One of the financial institutions involved in mortgage lending that stood the crisis is Wells Fargo & company, although its rating dropped since 2007, in the light of the financial crisis. In response to the crisis, Wells Fargo & company and other companies increased foreclosure filings by 2008 to the highest record in historical. This paper provides an overview of the subprime lending industry and state the economy in Wisconsin just prior to subprime crisis and the Wells Fargo Foreclosures. Discussion Prior to 1980s, people in Wisconsin, US, had only two choices for obtaining a mortgage. According to Knapp (2010), one could obtain a home loan insured by either the Department of Veteran affairs or by the Federal Housing administration. Borrowers with good credits histories would typically obtain new loans from a bank, saving and loan or any other financial institution. Knapp (2010) elaborates that obtaining mortgage loans became much easier with the deregulation of the lending industries in the beginning of 1980. For instance, the monetary control act and the deregulation of the Depository institutions in 1980 removed the restrictions that imposed a ceiling on the interest rates charged on mortgage loans. One remarkable impact of the deregulation is that it led to the introduction of new mortgage loans, which included ‘adjustable rate mortgages that were particularly favorable to mortgage borrowers who had their credit profiles impaired. However, according to Knapp (2010), these events did not lead to an explosive growth in the mortgage industry until the securitization of mortgage loans in the late 1990s. The securitization option encouraged the majority of the existing mortgage lenders to adopt a new business model which Knapp (2010) refers to as â€Å"originate to distribute† business model. This new model required that the credit risk posed by the mortgages loans was not exclusively to be absorbed by the lending institutions. Rather, it was to be shared with other investors in the world who purchased the Mortgage-backed securities. Knapp (2010) further argues that by 2006, approximately one-fourth of all new mortgage loans in United States were made to subprime borrowers while the other ratio was securitized and sold to investors in the United States and around the world. The increased demand for high-yield mortgage-backed securities among investors, including institutions such as hedge funds institutions and large banks, led the lenders to ratchet up their marketing efforts. They then came up with new products, which were designed specifically for the sector of the mortgage market in order to persuade individuals who were deemed to be of high credit risks to obtain mortgage loans. Among the most popular of these products were the stated-income† and the â€Å"interest-only† mortgages. The stated-income loan required an applicant to simply report his or her annual income during the application process of the loan (Knapp, 2010). The lender depended on the applicant’s self reported income in the determination of the size of loan that one could afford. According to Knapp (2010), many applicants for the Stated-income loans grossly overstated their annual income so that they could purchase a larger home than was economically feasible given their actual incomes. An individual who obtained the Interest-only mortgage loan was required to pay interests on his

How Should American Colleges adjust themselves for International Essay

How Should American Colleges adjust themselves for International Students - Essay Example In addition, in the field of policy of the foreign the United States and other more developed countries’ colleges educate many of those who take positions in leadership. Especially in other countries, this in the end may benefit relations between nations (Kegel 1). In addition, International students from international communities who chose to study in America colleges are mostly the bright students in their home nations and are also very motivated and focused students. However, these international students face a merge of challenges from the time they report to college. One of the challenges, for instance, English proficiency may be particularly problematic for most students from internationally. For example, in China, English is not taught through a speaking form but rather more through writing. As a result, many students from China know English vocabulary and grammar better, but have a hard time in conversing in English. International students from the international community mostly have challenges in understanding lectures, taking part in class discussions, writing term papers and taking notes. These students may also have difficulty understanding U.S English accents, idioms, slang, accents, and jokes. More so, international students may h owever think that they are incompetent in English conversational to participate in class (Kuo 1). However to make this matter more complex, the corporate world and community want students to grow and learn during college. Employers, parents of all students, and the public at large expect that college graduates will have gained adequate knowledge and certain abilities, qualities, and skills, including career cognitive and competencies when undertaking practical. They will demonstrate a given high level of competency in critical thinking, working as teamwork, resilience, solving problems and communication. They will be committed to social and personal

Concepts Learned to a Real-life Simulation Experience Research Paper

Concepts Learned to a Real-life Simulation Experience - Research Paper Example Now, on the right hand side of the equation, ‘e’ is taken as the number of times the interest is compounded. Now if we substitute the values in the equation we can get the following results. National First    Prime Rate 3.25% Floor Rate 6.75% Number of times compounded Semiannually i 0.1 e 2 a 10.25% Regions Best    Prime Rate 13.17% Number of times compounded Monthly i 13.17% e 12 a 13.99% (ii) Thus it is apparent from the above calculation that the company should borrow from National First Bank as it is charging interest at a lesser Equivalent rate which is 10.25%. If we suppose that the company acquires loan amounting to $ 8 million, then following will be the annual interest charge that the company will have to record in its income statement Loan Amount Bank Rate on interest Interest Charge $ 8,000,000 National First 10.25% $ 820,000.00 $ 8,000,000 Regions Best 13.99% $ 1,119,200.00 Thus it is apparent from the above calculation that in case of National First Ban k, the company would have to pay lesser amount of interest as compared to that if the loan amount was obtained from Regions Best Bank. By adopting to obtain funds from National First, the company will save $299,200 on account of interest payments. (iii) Evaluating the proposal of Regions Best, the following formula is to be used (Figure a) The above mentioned formula is termed as the formula for ‘annuity’ in which â€Å"P† is the present value of the cumulative amount, â€Å"R† is the period payments, â€Å"I† is the period interest rate and â€Å"n† is the number of period for which the funds were borrowed. As per the terms decided with the Regions Best, the company will pay interest at 8.6% which shall be compounded monthly (that is why the ‘I’ in the formula of annuity has been divided by 12). Substituting the values we get P $ 6,950,000 i 8.60% n 5 years R $142,925 monthly Following is the loan schedule further explaining the computation Loan Schedule Months Opening Balance Annual Payments Interest Charged (8.6/12) Principal Paid Closing Balance 1 6,950,000 142,925 49,808 93,117 6,856,883 2 6,856,883 142,925 49,141 93,784 6,763,099 3 6,763,099 142,925 48,469 94,456 6,668,643 4 6,668,643 142,925 47,792 95,133 6,573,510 5 6,573,510 142,925 47,110 95,815 6,477,695 6 6,477,695 142,925 46,423 96,502 6,381,193 7 6,381,193 142,925 45,732 97,193 6,284,000 8 6,284,000 142,925 45,035 97,890 6,186,110 9 6,186,110 142,925 44,334 98,591 6,087,519 10 6,087,519 142,925 43,627 99,298 5,988,221 11 5,988,221 142,925 42,916 100,010 5,888,212 12 5,888,212 142,925 42,199 100,726 5,787,485 13 5,787,485 142,925 41,477 101,448 5,686,037 14 5,686,037 142,925 40,750 102,175 5,583,862 15 5,583,862 142,925 40,018 102,907 5,480,955 16 5,480,955 142,925 39,280 103,645 5,377,310 17 5,377,310 142,925 38,537 104,388 5,272,922 18 5,272,922 142,925 37,789 105,136 5,167,786 19 5,167,786 142,925 37,036 105,889 5,061,897 20 5,061,897 142,92 5 36,277 106,648 4,955,249 21 4,955,249 142,925 35,513 107,412 4,847,836 22 4,847,836 142,925 34,743 108,182 4,739,654 23 4,739,654 142,925 33,968 108,958 4,630,696 24 4,630,696 142,925 33,187 109,738 4,520,958 25 4,520,958 142,925 32,400 110,525 4,410,433 26 4,410,433 142,925 31,608 111,317 4,299,116 27 4,299,116 142,925 30,810 112,115 4,187,001 28 4,187,001 142,925 30,007 112,918

How Plants are fingerprinted (Genetic) Research Paper

How Plants are fingerprinted (Genetic) - Research Paper Example It is based on polymorphism reaction taking place on the bases of the genome at molecular level and a number of techniques are based on Polymerase Chain Reaction ( PCR) used for the amplification of DNA. The basic technique of fingerprinting was developed by geneticist Alec J. Jeffery of Great Britain, who was associated with University of Leicester. DNA profiling is also used in plants for identifying different characters, identification of gene diversity and for the management of biodiversity. Widely used techniques are Restrictive fragment length polymorphism, randomly amplified polymorphism DNA, Inter sample sequence repeats, Simple sequence repeats. However, a number of traditional techniques are being used for the identification of DNA fingerprinting but new innovations are being made in the field to make the process easier and precise. These traditional methods of DNA testing involved the comparison of random pieces of DNA but afterwards more reproducible and accurate analysis were conducted based on the comparison of gene sequencing in a particular DNA strand. Living cells, from flora and animals to human beings, are composed of basic building blocks namely DNA or deoxy-ribonucleic acid. It guides the production of enzymes or compounds that are required for growth or development of various traits of living being. It is a hereditary material which is passed from one generation to another for the production of specific types of characteristics as guided by the genetic material. Nearly every cell in an organism’s body is composed of same type of DNA. The genetic information is stored in DNA in the codes of these four chemical bases namely Adenine, Thiamine, Guanine and cytosine. The order of these bases determines the encoded genetic information. And all of these parts combine to form a single nucleotide structure. The sugar from one nucleotide links with the base of other nucleotide forming the structure of double helix. Meanwhile the bases links

Is Adorno being elitist when he criticises the culture industry Essay

Is Adorno being elitist when he criticises the culture industry - Essay Example ts came from educated-in-elite-school-system Germans such as Schopenhauer, Martin Luther, Immanuel Kant, Karl Marx, Friedrich Nietzsche, Bach, Beethoven and Goethe. There was a point in time where the German elite formed the main part of the intelligentsia. â€Å"The Germans are literary people. The country is after all das Land der Dichter und Denker, the land of poets and thinkers.† (Wasser, 2006) To understand whether Theodore Adorno in his criticism of art, music and culture was guided by the moralist, egalitarian, capitalist or totalitarian stance, this paper will focus on Adorno’s biography and his contributions to the development of the culture industry as well as his critical views on music and popular culture. For the purpose of clarity and space, Adorno’s early works (1941-1941) will be used as reference to build the entire paper. In 1903 in Frankfurt, Germany, Theodore Adorno opened his eyes to an affluent and educated family. Both â€Å"his mother and sister were accomplished musicians and it was from them that he received his initial training and encouragement in his life-long love for music† (Jay, 1973). His Jewish roots ultimately became the deciding factor in his philosophical writings and thoughts, especially after Hitler’s totalitarian regime and the Nazi Holocaust swept over Germany with millions of Jews persecuted under it. During this time, Adorno was forced into exile and spent the next 16 years of his life in England and the US before returning to Germany to complete his doctorate in Philosophy from Frankfurt University. Adorno’s position on culture and the music industry has managed to establish key influences in the domain of media studies. His ideas about these industries were critical and in some cases, pessimistic. Adorno analyses the dynamics of the culture industry in the context of ‘standardization’ underlining it as a fundamental characteristic of pop music. He quotes himself: â€Å"A clear judgment concerning the

The Heart of a Teacher Essay Example for Free

The Heart of a Teacher Essay As I leaned on my headboard, I found myself heading towards the enjoyment of reading this article about how the real teacher teaches with his/her heart in the classroom. And so I started reflecting on what kind of a teacher I am. Teaching at first has not come in my wildest dream but since the family whom I came from cannot afford to send me to exclusive schools or well-known universities where I can pursue my career (fine arts which I wish to pursue), there’s no way out but to take up the course of education. I fear the fact of entering this path because in the first place, it’s not my first choice and it’s none of my choices. I think I had only the nerve to enroll since my mom is also a teacher. It was funny to recall when my professor in the graduate school, Dr. Irapta, asked who among us had experienced role playing as a teacher at home during our childhood, pretending that it was a real classroom scenario. I wasn’t sure how would I answer that question since the real thing is that I hadn’t. But years went on and I started and learned to love what teaching has to offer me. And I think that I already possess what this article is trying to imply, the heart of a teacher. With this, I do agree with the statement that quotes â€Å"We became teachers for reasons of the heart, animated by a passion for some subject and for helping people to learn. † It is very evident on us who consider teaching as a vocation wherein we put our heart not only to the occupation itself but to the student-learners and the subject as well. Sometimes we’re carried by the fact that we create harmonious relationship with this community of teachers, students and subject. We’re driven by some objectives, not only for the salary but our mission and passion to help the innocent ones to get them out of their shells and discover the reality of unbelievable ideas and concepts in this world. But, we cannot deny the fact that many of us lose heart as the years of teaching go by for so many reasons. The question becomes: How can we develop and sustain, in ourselves and each other, the heart for good teaching? Good teaching requires courage – the courage to explore one’s ignorance as well as insight, to yield some control in order to empower the group, to evoke other people’s lives as well as reveal one’s own. This means overcoming fears that block good teaching and learning. When our fears as teachers mingle and multiply with the fears inside our students, teaching and learning become mechanical, manipulative, and lifeless. Some tend to be distracted with the external forces around them; some were disillusioned with the factors and techniques for reclaiming their hearts and for keeping each heart open. When we lose our heart, we need an understanding of our condition that will liberate us from this condition. We need to keep our hearts open to students so that we can make teacher and students and subjects be interwoven into the fabric of community that learning and living require. We, teachers must try to connect ourselves, as well as our subjects to students so that we can create good rapport and learning environment. There must be an inner dialogue of reflection. â€Å"Seldom, I ask the â€Å"who† question–who is the self that teaches? How does the quality of my selfhood form–or deform–the way I relate to my students, my subject, my colleagues, and my world? How can educational institutions sustain and deepen the selfhood from which good teaching comes? † In relation to this, we need to recover the heart to teach by reclaiming our relationship with the teacher within. Listening to the voice within is somewhat easy to do and in fact, helped me to simply reflect on what I have done in a day’s work. The same thing as putting my heart while reading this article and finding solitude and silence just to cope up with the question in me, â€Å"How can I develop the capacity to stand my ground in the midst of the complex forces of both the classroom and my own life? † We must reclaim our relationship with the teacher within. A teacher who invites me to honor my true self-not my ego or expectations or image or role, but the self I am. The voice of the inward teacher reminds me of my potentials and limits as I negotiate the force field of my life. What we teach will never â€Å"take† unless it connects with the inward, living core of our students’ lives, with our students’ inward teachers. We can only speak to the teacher within our students when we are speaking with the teacher within ourselves. How does one attend to the voice of the teacher within? Some particular methods are solitude and silence; meditative reading and walking in the woods, keeping a journal, finding a friend who will simply listen. I merely propose that we need to learn as many ways as we can of â€Å"talking to ourselves. † However, conversation with my peers feels like being at ease, trusted and able to trust and above all, it helps me cultivate a sense of identity and integrity that allows me to feel at home wherever I am. I experienced sometime in my own teaching when I lose touch with my inner teacher and my own authority. During those times, I tried to regain it by wielding the threat of grades but when the voice within authorized me to teach, authority comes as I reclaim my identity and integrity, as I remember my selfhood and my sense of vocation. When the teachers struggle to survive from losing their heart, I guess it would also be practical to have some fun and techniques that ordinary teachers can use in everyday class. The same thing with my experience, I use different techniques, much practical techniques, such as motivating the students and getting their attention to focus on the subject, which will result to staying alive of the students inside the classroom. It is also a daily scenario in our faculty room where they argue about what to do with the students. Some questions their own limits and potentials when it comes to dealing with the relation between the subject and students’ lives. I won’t forget when my co-teacher told me how he was envious about my strategies and techniques on classroom management and on my way of teaching; how do I make my class in order and teach with my heart while during his class with the same set of students, he fails to control the discipline and fails to earn full respect of the whole class which must be evident on their way of interaction. While listening to his clamors, I was thinking of the best techniques I could offer him, but, to my surprise, it came to the point that he was planning to quit teaching. I don’t know why he had that thought of giving up until I read this article. I realized that he has lost his heart and he must be able to understand his condition so that he can avoid himself from truly losing it and recover from it instead. This teacher must talk with the teacher within him and find out how to overcome this condition. As I go on reading the article, I found the statement that says, â€Å"The institutions in which they work are the heart’s worst enemy,† which is indeed correct. Some leaders operate with a deep, unexamined insecurity about their own identity. These leaders create institutional settings which deprive others of their identity as a way of dealing with the unexamined fears in the leaders themselves. Institutions continually try to diminish the human heart to consolidate their own power, then, the individual self of a teacher is left with a discouraging choice. In the end, the teacher will be distant from the institution or will maintain external vigilance against institutional invasion. Teachers have leadership capabilities waiting to be unlocked and engaged for the good of the schools. But if the teachers in some schools or institutions will not be given chance to grow not only professionally but also inwardly, there’s a tendency that the teacher might withdraw from teaching. The question is, â€Å"how can the institution educate students if they fail to support the teachers’ inner life? † We must create enough spaces and trusting relationships within the teachers’ workplace. With this, we may be given opportunities to grow inwardly as teachers and we can be able to tell our own struggles and joys as teachers so that healing can happen within us – not only for our sake but our teaching and students as well. With this, we can bring back our hearts to teaching and reclaim our identity and integrity in teaching.