Management Accounting Control System Essay Example | Topics and Well Written Essays - 2000 words

Management Accounting Control System - Essay Example The needs of it vary for a different organization in accordance to business areas of their concerns. Its needs include: As stated, preparing management account periodically is recommended but not mandatory. But, for the sake of business, it is needed to maintain once in a month or quarterly in a year depending on company profile and size. It is very hard to run a business efficiently without them. In this era of information, an information system is not getting utilized as it was expected. In management account information needs to be applied properly and adequately. The best way is to break down so that the performance of different elements of the business can be measured. For example, for one integrated Circuit manufacturing company, different flows can be broken up and later on aggregated. Flows may include mask design, photolithography, oxidation and etching etc. Or, if a manufacturing industry has various processes such as moulding, embossing or welding then they can be segmented as per their sequence and finally need to be mapped together. If any financial institution is taken into consideration then, it might have more than one sales outlet and for this case, the separate report for each outlet is required. Management account specifically analyzes performances and includes sales, cash-flow and profit forecast which are treated as forward-looking elements. The analysis generally is carried out against forecast and budget that has been brought down during an initial period of the year.

Hypothetical situations Assignment Example | Topics and Well Written Essays - 1250 words

Hypothetical situations - Assignment Example Personal honesty is a moral standard that should guide committed and devoted engineers. With personal honesty, civil engineers will construct bridges not with the greed of making money but with the honesty of using appropriate proportionality of the required material that will enhance reputation of the engineers, longevity of the structure and safety of the users. Secondly, engineers distinctively should practice with the mindful care of the environment. Since their area of practice and exploration is the natural environment, therefore it would make more sense if they cared for it more as a form of long-term investment. If their exploration is guided by short time gains and personal interest, then the environment is at risk of being over-exploited. This will leave the future generation with serious risks (Aristotle & Reeve, 2014). It is, therefore, arguable that the two virtues have a bearing on a wider scope of significance and inside them, there is a host virtue that will be put into practice such as avoiding bribery, ensuring public safety, fairness and conflict of interest. Q2. In the present time of arrogance, people who have humility and full of virtues are considered as weak and timid. One of my acquaintances who had excelled in his A-level examinations had full-blown arrogance as the happiest of all the candidates who sat for those final examinations. At the same time, a classmate that did averagely on the exam was happy that he had gone through the system, which he out rightly considered as not strategic for him. He had great ideas of entrepreneurship that made him get the breakthrough. With humility and his humble stature, he employed a number of the poor and paid them honestly. In the fullness of time, the brightest student of our time went through the system with every holiday working as the part-timer on the business empire that the failure had developed. On reflection,

A Narrative of the Captivity and Restoration Essay Example for Free

A Narrative of the Captivity and Restoration Essay A Narrative of the Captivity and Restoration of Mrs. Mary Rowlandson, written by Mary Rowlandson, is about King Philip’s War. The war started on June 20 in 1675 and was between English colonists and Native Americans. During the war, the Indians attacked English colonists’ territory. They burned the colonists’ houses, killed the resisters and captured some of the colonists. The living of captives was very tough. They had to move from place to place with the Indians. The Indians treated them very badly. If they didn’t listen to the Indians, they would be beaten or even be killed. Besides, the weather was cold and sometimes the food supply was short. As a result, lots of captives died during the captivity. As a victim of the Indian attacks, Mary Rowlandson wrote a vivid description of the eleven weeks and five days she spent living with Native Americans which owns very high value in American Literature. First of all, the work owns high historical value in American Literature. In her description, she vividly shows her experience as a captive which makes people easily understand the situation at this period and the relationship between English colonist and the Indians. In her description, we can find that all the English captives didn’t be ruled by the same Indian master. There were different Indian masters. Each Indian master owned English captives and located in different places. According to the masters, the captives could be transferred from one tribe to another. Also, in the description, sometimes Mary Rowlandson communicated with the Indians. From this point, we can find that some of the Indians could speak English. Besides, in the work, we can also know how English colonists deal with Native Americans. They trade by money, clothes, tobacco, liquors, seed corn hemlock, ground ivy and etc. This point shows that the living of the Indians was tough then. They lacked food and some daily necessaries, so it was effective to trade with them by something they really needed in their lives instead of money. Secondly, this work also shows the high value of Christian point of view. As a Christian, Mary Rowlandson uses lots of quotes and passages from the Bible in the description. No matter how hard the captivity was, she always  showed her piety to God. Instead of blaming the Indians, she used the stories in the Bible to console her sorrow and suffering. The Bible was the center of her life during the captivity. Even though her experience was so painful, she thanked God for everything. In the work, she strongly showed the positive side of Christianity which make readers offer high value to the Christians. A Narrative of the Captivity and Restoration of Mrs. Mary Rowlandson is one of the important works in American Literature. It offers readers high values of history and Christian point of view. By reading the story of Mary Rowlandson, we can clearly understand this period of American history. and also realize the virtue of Christianity.

Critic The Pestel Analysis As Model Commerce Essay

Critic The Pestel Analysis As Model Commerce Essay The topic of the project concerns research questions, which are based on previous observations over Bohemia Travel Agency. It is an interesting topic to follow, because of the arising opportunities for the company. With the long years of experience in the tourism sector, the company has already created image and during the whole years that positive image increased the profitability of the company. While becoming a leader on the market, the travel agency increased the potential of its performance, so that is the main reason of choosing the certain company and the researched questions. The investigation of finding solution to these research questions are strictly related to pursuing an appropriate theories. These theories bind together with appropriate analysis will open the future paths for increasing the business performance of the company. As mentioned in the problem formulation and the methodology the project will harshly follow the strategy of the travel agency and based on the strategic direction and choices, we will find a better ways for the company to develop and expand its business. The usage of the theory will start with examination of the macro-environment. The analysis is the first step of the planning process, as it helps to identify issues to be removed in the development and implementation of effectiveness in the business development. In this sense, it is crucial to examine the microenvironment and immediate impact on the organization. The most commonly used technique is the so-called PESTEL analysis divides the entire external environment of six segments, thus covering almost everything that can affect the organization. These six areas are: economic, political, social, technological, environmental and legal. The thing that should be considered when one PESTEL analysis is conducted is to identify the environmental factors that affect the organization in the long term, and arrange them in order of importance. When the organization develops the strategy, there is a variety of important factors they have to consider. We are going to take a look at all the factors that affect the economic environment and examine the relationship between business and the environment. This part will explain the key macro-economic variables that affect the business of the organization and will identify the trends in these variables. The PESTEL model will assess how changes might affect the company and will evaluate the strategies that the company might deploy in response. Thus, we are using that model in our research. The plan of action of the travel agency could be always ruined by the external economic changes, thus the PESTEL analysis will help us in finding out the appropriate solution for the further strate gic choices. According to Farnham (1999), the PESTEL and Porters (1980) five forces model provide a useful start for analysis the external environment and providing a crucial set of inputs for strategic development and implementation. (P. Rudolpf, 2005) It is important to critic the PESTEL analysis as model, because it clarifies the external factors of the company, but these factors (Lynch 2006) are viewed as almost uncontrollable. In addition (Sutton 1988) suggests that analysis of the external environment is undertaken to gain competitive advantage and improve long and short term planning. McMillan and Tampoe, (2000) state that the PESTEL framework represents a guide to the general environment but is based only historical data and the past, but it refers to forces of changes in the environment and can be used to forecast the future. In other words, understanding changes taking place currently is an important guide to anticipating the future (Fahey, 1986). (Aguilar 1967; Choo and Auster 1993) suggest that the external environment in relation to an organisation or business is where information that is of critical importance can be analysed. This in turn will help the strategic planning and future development of the organisations future. Organisations and businesses choose to analyse the external environment in order to understand forces out with the business or organisation that can change a proposed strategy instantly. Organisations and businesses do this in order to avoid any surprises and in turn identify threats and opportunities. Such as the SWOT/TOWS analysis, the PESTEL analysis has been discussed and proposed as an excellent tool by many authors and researchers (Lynch, Sutton, Farnham. In addition (Sutton 1988) suggests that analysis of the external environment is undertaken to gain competitive advantage and improve long and short term planning. Moreover (Lynch 2006) asserts that external factors outside the business or organization are viewed as almost uncontrollable. In addition we will say that conducting the PESTEL analysis will be much more reliable than any other models, because it strongly influences our further strategic choices. The next step of in understanding the firms competitiveness is to look at the competitive arena in an industry. Porter five forces model is created by Michael Porter in Harvard University (1979). The aim of the model is to analyze the industry in order to identify the level of intensity regarding the competition and attractiveness of the industry. A good technique for analysing the microenvironment is Porters five forces model that helps to identify the level of competition in an industry (Stonehouse, 2001). However, it is essential, by using this model, to consider the characteristics of the industry in regard to technological and economical environmental aspects and the influence of the government in regulation competition (Porter, 1980). According to variety of authors (Porter, Kotler, Lynch, Hollensen etc.) the external environment should be accompanied with competition analysis. That is why our next step will be based on the authors advices. In our case, that is the Porters five forces analysis. As already described in the methodology part (see the previous chapter above), the Porters five forces are going to clarify our picture of the competition in the tourism sector of the chosen travel agency. One of the most useful frameworks for analyzing the competitive structure has been developed by Porter. Porter (1980) suggests that competition in an industry is rooted in its underlying economic structure and goes beyond the bahaviour of current competitors. (Hollensen, 2010) As we can see, one of the authors following the Porters model is Svend Hollensen, who as an Associate Professor can confirm the benefits of using the Porters five forces as a constructive model of analyzing the competition in the industry. Moreover (Hollensen, 2010) asserts that the goal of competition analysis is to find a position in industry where the company can best defend itself against the five forces, or can influence them in its favour. If we agree with Hollensen (2010), there will be two possible outlines for our travel agency positive and negative. But no matter of the final results, in overall, the analysis will ensure and confirm our further strategic choices and will influences on our proposal of investment plan. Michael Porters five forces model was also harmed of other authors criticism, such as Lynch who says that the model assumes that there are no changes in the industrial environment but in fact the market is very flexible. This is shown for example on the enormous growth of the e-commerce sector. If you use this tool, you have to repeat this analysis continuously. (Lynch, 2009, p. 101-102) The main reasons why Porters five forces has endured much criticism are that the world radical economic changes has occurred since the time the model has been developed; there is a very strong impact of internet on the industry. Of course, the recent years, there are authors, investigating the strategic planning in the business and one of them Larry Downes stated that Porters five forces are no longer viable. Due to that reason, Downes has developed three new forces, which are: Digitalization, Globalization, and Deregulation. Downes insists that Porters five forces model is obsolete. Downes arguments are convincing. In fact, digitalization, globalization and deregulation have become powerful forces during the last years, but Porters models rarely take them into consideration. Todays markets are highly influenced by technological progress, especially in information technology. Therefore, it is not advisable if not to say impossible to develop a strategy solely on the basis of Porters models. (Recklies, 2008) Downes critique of Porter implies that Porters models focus too much on the economic conditions of their era of origin. Therefore, their viability is limited under changed conditions. We need to add here that Downes new forces are derived from the economic conditions of their particular era too. Within some years or decades, they will have lost some of their importance because other developments have taken over the driving role. (Downes, 1997) Further criticism comes from those who say the model simply provides a snapshot of an industry, rather than a more dynamic picture which says something about the future, and can be more readily translated to strategy. Lawton argues, however, that the idea of assessing substitutes does bring dynamism, highlighting where the challenges will come from. Then there are those who criticise the model for having missed out a vital stage in the process of assessing the market. Lampel says: It doesnt explain how to define the industry, and sometimes that is a tricky question. Porter picked industries that were easy to identify, but a lot of people get the industry wrong, so the analysis is worthless. Some people argue that defining the industry is the critical input of knowing where you stand. (SPS, Nov. 2009) However, some criticism has been made that the five forces are an analytical tool and rather static. Rumelt, (1991) suggested that companies have company-specific preferences of strategic development regarding profitability, which has lager influences than the competitive forces of environment. Furthermore, the five forces largely ignores the human resources aspects of strategy (Farnham, 1999), which will be of increasing importance in the future. But still we can stick to the proving of PESTEL analysis combined with Porters five forces, because as Thomas Lawton, professor of strategic management at Cranfield says: In a sense transposing the PESTLE ideas onto the Five Forces is the best way. (SPS, Nov. 2009) The very next theoretical model conducted in our project will be SWOT/TOWS analysis. The SWOT analysis is a rottenly used strategic tool in bigger or smaller organizations. It examines the internal and external environment of a company and gives a clearer picture for an organization of its strengths, weaknesses, opportunities and threats. SWOT analysis is developed by Albert Humphrey, who named the strategic tool alternately SWOT Matrix. The matrix is also described by (Jobber and Fahey 2006) as the structured approach to evaluating the strategic position of a business or organisation by identifying its strengths weaknesses opportunities and threats. (Lynch 2006) furthers the view of (Jobber and Fahey 2006) by suggesting that the SWOT analysis is how a business or organisation can further their development from the PEST and Porters Analysis and make an amalgamation of the analysis of the internal and external environment by doing the SWOT analysis. On the other hand, the SWOT has end ured a lot of criticism of variety of authors and researchers, working in the field. In relation to the external factors of the SWOT analysis (Johnson Et al 2009) suggest that the analysis of opportunities and threats is extremely valuable when the organisation or business is looking to formulate a proposed strategic plan for the future. Other criticism is provided by (Mintzberg 1994) who suggests that SWOT is the main cause of what is considered there an excessive formalization of the strategy making process. Many authors (Baramuralikrishna and Dugger 1998; David 1997; Hill and Westbrook 1997; Johnson et al 1989; Thompson and Strickland 1998; Wheelan and Hunger 1998) suggests that this usage rarely amounts to much more than a poorly structured, very general, hastily conducted exercise that produces unverified, vague and inconsistent inventories of factors regarded by the proposing individuals as most important components of their organizations strategic situation. Most of the SWOT critics are arguing that the matrix is too superficial and basic. It does not provide detailed analysis of a company and many times it is used in a wrong way. Due to much criticism and conflicts between authors about the SWOT analysis, we decided to conduct the TOWS matrix represented and developed by Heinz Weihrich, Professor of Management, University of San Francisco. He writes a detailed article about TOWS analysis, also called The TOWS Matrix A Tool for Situational Analysis. (Heinz Weihrich, GODINA) has two main purposes One is to review general considerations in strategic planning and the second to introduce the TOWS Matrix for matching the environmental threats and opportunities with the companys weaknesses and especially its strengths. These factors per se are not new; what is new is systematically identifying relationships between these factors and basing strategies on them. There is little doubt that strategic planning will gain greater prominence in the future. In his article Heinz Weihrich is describing in details the ways of usage the matrix and the main benefits of using the matrix. In contrast of the SWOT analysis, the TOWS one is much more reliable and appropriate to conduct in our project, because it is focused in analyzing the company in much more details and gives much flawless picture of how to turn the weaknesses into strengths and the threats into opportunities. The TOWS matrix is combining the whole four outlines of the matrix and creates the opportunity of better observation into the internal and external factors influencing the company. Even sometimes the threats could ruin the forecasting, the TOWS help the company to forecast easily and once understood the strengths and the weaknesses, the company could find better future opportunities to develop. The relation between providing TOWS and the other strategic tools PESTEL analysis and Porter dive forces is that all the models and theories are bind together in building the most appropriate path for the company to find the most accurate strategy for the better performance of the company. The very next strategic tool of the project is the model of Igor Ansoff, who created the product-mission matrix, in other word the so-called Ansoff matrix. The matrix allows companies to realize the risk component of various growth strategies, including product versus market development, and diversification. The Ansoff matrix presents the product and market choices available to an organization. Herein markets may be defined as customers, and products as items sold to customers (Lynch, 2003). When developing the Ansoff matrix, the inventor Igor Ansoff aimed to measure the growth of risk that the company might take when choosing different directions of strategy. According to the matrix, we can say that the more different the territory is, the higher risk is taken. Managers of organizations should be aware of how to manage the risk appropriately and to take into considerations the right decisions. The Ansoff matrix helps the company to increase its profit by entering in new business oce ans. The strategies taken by a company may have huge consequences and that is why the risk should be observed carefully. However, due to these reasons in our project we will conduct an analysis over Ansoff matrix and will see how the strategies will work for it and for its future performance. As also known, the Ansoff matrix was developed 1957, but a few years later the Igor Ansoff realized that his work was not unique, because a similar matrix was developed earlier.Moreover few years after Ansoff matrix was much criticized by Henry Mintzberg, who didnt like the idea of strategy being built from planning, which is supported by analytical techniques.

The Ancient City :: essays research papers

The Ancient City Pompeii 'How democratic was Pompeian politics?'; In order to answer the above question, it is first necessary to consider the exact meaning of the term 'democracy';. Whilst it is difficult to give an exact definition of the word, it is certainly possible to create a list of the implications of democratic government for a society and its citizens. Perhaps the most obvious of these implications, certainly when considered from a modern standpoint, would be that every full member of a society would be considered as being equal, and thus would have an equal say in the running and appointing of a government. Secondly, truly democratic government would also imply that every member of society would have an equal opportunity to be elected to a governmental position. Such an opportunity should at least, in theory anyway, not be reliant on social class or position, nor financial support. Finally, the existence of a truly democratic system of government would also imply that governments be periodically elected, and during any given term of gov ernment, politicians would be fully employed by the state in the running of the country. Given such implications of democracy, Pompeian politics would appear at first appraisal to hardly be democratic at all. Certainly, it can be said that the politics of Pompeii in particular and by extension the politics of Roman society as a whole do not meet the modern, Western ideas of a relatively liberal, democratic society. However, such a modern, Western idea of democracy was one that was entirely alien to the citizens of Pompeii and to the citizens of many ancient civilizations. Therefore, the nature of Pompeian politics must be considered not only from a modern political standpoint, but also from a standpoint more relative to the political ideals of Pompeian society and the Roman Empire, where a very different form of democracy was in existence. Whilst such a form of democracy is very different to that of today, it is certainly accurate to say that there was at least some element of democracy in Pompeian politics. Without such an

Dreams And Dreaming :: essays research papers

Dreams and Dreaming   Ã‚  Ã‚  Ã‚  Ã‚  “ To write something and leave it behing us,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It is but a dream   Ã‚  Ã‚  Ã‚  Ã‚   When we awake we know   Ã‚  Ã‚  Ã‚  Ã‚   There is not even anyone to read it';  Ã‚  Ã‚  Ã‚  Ã‚  Zen Master Ikkyu   Ã‚  Ã‚  Ã‚  Ã‚  WE dream during a state of sleep called REM sleep. It is known that theta rythems sent from the hippocampus, which determine if something is of essential value to the brain, are presesnt during REM sleep. Which supports the idea that dreaming is connected to learning and that dreams are very important to the growing process.   Ã‚  Ã‚  Ã‚  Ã‚  Sleep is set in cycles, each containing four stages   Ã‚  Ã‚  Ã‚  Ã‚  STAGE 1: Light sleep begins- thata waves   Ã‚  Ã‚  Ã‚  Ã‚  STAGE 2: Light sleep continues- spindles and K complexes   Ã‚  Ã‚  Ã‚  Ã‚  STAGE 3: The onset of deep sleep- K complexes and delta   Ã‚  Ã‚  Ã‚  Ã‚  STAGE 4: Very deep sleep- delta waves   Ã‚  Ã‚  Ã‚  Ã‚  The first cycle is roughly 90 minutes. The brain decends through all four stages, and then acends back through them, but on the way up REM sleep is experienced at stage 1. This REM period lasts about 10 minutesAfter the first cycle the delta sleep may no occur at all. the brain will cycle through stage 1 and 2. As the night goes on the proportion of REM to NON- REM increase, so by the end of the night you may dream for as much as 1 of the last 2 hours of sleep. Though for some of us we still sleep deeply even to the wee hours of the morning. The “deep sleepers'; Thus light sleeper are more likely able to remember dreams.   Ã‚  Ã‚  Ã‚  Ã‚  The Menangkabau tribes of Indonesia believe that the real life force, the sumanghat, actually leaves the body in both dreams and serious illness. The shaman, or Dukun, must project his conciousnes into the realm of dreams in order to placate or harry the malicious malignant spirits who are hostile to the subject   Ã‚  Ã‚  Ã‚  Ã‚  Dreamtime of the Aboriginees is a primal state which embraces the creation of the world at the very dawn of our time. It is the realm of the mythical beings who fist breathed life onto the universe.. Their culture extends back over 40,000 years, the oldest spiritual culture of the world. The Shaman is known as the Karadji.

Concept map

Take for example, peer pressure from bad associates. They eight pressure us to ditch classes, cheat, drink alcohols, smoke, try taking drugs and influence us to disobey our parents. Another is peer pressure from our own wrong desires. Its given since in our teenage stage, we youth are adventurous. We wanted to try something new we haven't experience yet and we crave on something we don't have. Thus, being attentive can help us to caution ourselves from dangers.If we see troubles coming in our way, don't walk right in to it find another way. Secondly, think about the consequences. Why not ask yourself? For instance: How lives feel later if I give in? What may be the outcome? How can it affect the others, specially, to your love ones? Remember, bible says at Proverbs 14: 1 5, smart people watch their steps. Doing right decisions requires a lot of time to meditate. For this, we just don't jump in to any conclusions. Use your imaginations.Third step, we must plan ahead. Proverbs 24: 5, à ¢â‚¬Ëœwith knowledge a man increases his power'. If we know why we don't do those something and the reasons why it's bad, we can have the strength to say No. There are two ways to do that, strengthen your convictions and seek good explanations. Know how to distinguish right from wrong and give them the right reason for them to to bother you again. Finally the fourth step, take action. Now, we don't have to lecture them. Just say ‘No', clearly and confident.Stand firm in our beliefs for they are not theories but facts. Granted that, those beliefs are all according from the scriptures. Each time we show determinants to resist pressure, we grow strong and stronger. It'll be easier for us to resist peer pressure the next time. Therefore, reacting to peer's pressure depends on us. If we remain weak and unable to stand firm, well never get rid of it. Yes, they are inevitable but by following those steps, you'll see things differently.