Cost Pools and Cost Objects

Topic 6: Management Accounting and Cost Case: Shelter Partnership a. My main learning outcomes from Topic 6 and the Case Study; 1)Firstly, I realize management accounting has much to offer. Somehow I can handle physics but not accounting. Now thanks to this course I can appreciate and make sense of it. The bit that really caught my attention was seeing how management accounting can be really useful for business planning, cost management, budgeting and performance measurement. It offers critical and more objective inputs for decision making. On my part, I would say this is one of my most important learning outcomes as it changed my personal view and outlook of accounting. 2)I have learnt that a good costing system is needed to get a better grip on the â€Å"actual† cost of my products and services. Gaining a better understanding of the Cost Pools (and the types of cost) and how these costs are allocated to the Cost Objects is a good starting point. 3)I realize that it is very important to identify and define the Cost Objects properly from the start. While I may like to define the Cost Objects narrowly, it should only be done to the extent it is economically viable. )I recognize that there are a number of ways to allocate indirect costs (from the Cost Pools) to the Cost Objects and these can cause distortion. It is therefore imperative to establish a meaningful and acceptable way of allocating such cost to better reflect the true cost. This leads to my next learning outcome. 5)Stephen Covey’s â€Å"begin wi th the end in mind† rings true here. If I had wanted to measure and analyze the Cost Objects by products, services and countries(Multinational Company), both the Cost Objects and the way cost is allocated needs to be defined early. In this case, a deeper engagement between my Marketing Department and the Finance Department is necessary to fine tune the costing system. 6)When looking at the cost numbers, it is imperative for me to consider and discern the context and assumptions used in arriving at the numbers since these are not â€Å"standardized†. b. Applying the learning outcomes to my own organization. 1)I work in a large IT company and my portfolio includes Marketing, Consulting and Strategic Account (Client) Management. In the area of Account Management, the company had recently implemented a system to track the profitability of each Client. In the case of revenues, it is a relatively simple process. However, getting a truer picture of the cost of providing professional services to each of our clients is a major challenge. In a sense, our client account is a â€Å"Cost Object†. 2)In a typical project undertaken for our client, professional services are provided by dynamically formed teams made up of Project Managers, Business Consultants, Senior Project Leads, Business Analysts, Programmers and Testers. Presently we are allocating cost to each of our clients according to the numbers of professional man-days consumed by the clients based on a â€Å"blended† man-day rate. The following is a simplified illustration of how cost is allocated. 3)We have room for significant improvements in the way we allocate cost. a. Labor cost which is a direct cost becomes a little complicated due to the project nature of the service. But since our systems captures the actual time-sheet for each employee according to projects, we should be able to eventually allocate labor cost directly to the Client, â€Å"Cost Objects† and give a truer reflection of cost. . Secondly, we should explore for more appropriate ways for allocating indirect cost such as travel & ticketing administrations and office space which is presently added into the blended rate. Since administration for travel and ticketing only applies to overseas projects, In-Country projects should not be â€Å"burdened† with t hese costs. Similarly, office space is only applicable for projects running out of our own premises and should not be loaded to projects undertaken at specific clients’ premises. At any one time around 50% of our staff is based outside of our office. )We found the shortcomings in cost allocation affects our decisions on pricing, discounts, expense provision, use of resources (especially when contending for resources), budgeting and business planning. 5)We have some multi-nationals clients, and I am curious about the effect of establishing overlapping â€Å"Cost Objects† to present a group/enterprise level view in addition to the present individual client level view. In our case, we have local offices in a number of countries and resource sharing is quite extensive, however no cost transfer has been allocated to the individual client account.

Discuss the prospects for a peaceful resolution to the Essay

Discuss the prospects for a peaceful resolution to the isreali-palestinian conflict.What are the core issues that need to be resolved for lasting peace to occur - Essay Example decades in order to bring about lasting peace between Israelis and Palestinians but all of these attempts have ended up in failure mainly because of the unwillingness of either side to make concessions that are deemed to be advantageous to their rivals. The result has been that the conflict has remained intense and this to such an extent that it has become common for both sides to level accusations and counter accusations towards each other over their unwillingness to bring about lasting peace. It is essential to note that there are many issues that have to be resolved in order for lasting peace to be brought about in this region, some of which will be discussed in this paper. Among the issues to be resolved are the following; the conflict of identity, socio-psychological barriers, religion, justice and fairness as a barrier, and finally, the strategic decisions taken during the peace process. One of the biggest issues that have to be resolved in order to bring the Israeli-Palestinian conflict to an end is the conflict of identity. This is a situation which developed as a result of the forced removal of Palestinians from their land during the war of 1947 to 1949 which brought about the Palestinian refugee crisis (Flapan 1987, p.4; Morris 2004, p.48). This crisis has become one of the major issues of contention during the peace process because it has brought about a situation where among the points made by Palestinian authorities is that the refugees have a right to return to their ancestral lands. The argument for return is one which is normally bitterly opposed by Israel because it would essentially mean the invalidation of the Jewish state and recognition that it has settled Palestinian land illegally. This is a concession that Israel is unwilling to make because it would essentially bring its development over the last six decades to a halt. Furthermore, most Israelis b elieve that the land that was occupied starting from 1948 is their ancestral land and that

International Business Alliance case-writing Essay

International Business Alliance case-writing - Essay Example In 1996, TSYS and VISA U.S.A.'s Merchant Bank Services formed the for-profit Vital Processing Services LLC joint venture, combining both companies' merchant processing units, which together processed nearly three billion transactions in 1995. TSYS has also expanded into new areas to combat the increasing maturation of the U.S. credit card industry. In 1995, TSYS, which has long serviced banks in Canada, Mexico, and Puerto Rico, took its first steps to transform itself into an international company. TSYS formed the joint venture Total System Services de Mexico, S.A. de C.V. with Controladora PROSA, an 11-bank partnership representing 75 percent of Mexico's card-issuing banks. The joint venture added four million accounts, giving TSYS de Mexico 40 percent of that country's credit card accounts. TSYS has also expanded beyond traditional credit card markets by winning the processing business of United States Medical Finance Corp.'s USMed Card, a medical credit card. An alliance with Fair , Isaac and Company subsidiary DynaMark, Inc., formed in 1995, has enabled TSYS to extend its services to its clients with dynamic database marketing capabilities. TSYS generates revenues through the volume, rather than the amount, of transactions made on the credit cards it services. In 1995, TSYS revenues neared $250 million, producing a net income of $27.7 million. TSYS is led by Chairman and CEO Richard Ussery, Vice-chairman Kenneth Evans, and President Philip Tomlinson, all three long-time employees of parent company Synovus Financial Corp. That company, formerly known as Columbus Bank & Trust, owns 81 percent of TSYS's stock; TSYS management controls an additional ten percent of the company's shares, with the remainder trading on the New York Stock Exchange. In the 1950s, it was barely possible to speak of a credit card "industry." When tiny Columbus Bank & Trust (CB&T) issued a credit card to its local depositors in 1959, it was only the second bank in Georgia, and among the very first in the country, to do so. A credit processing operation was set up in the bank's basement; processing was done manually, as computers were still rare and software was even rarer. Through the first half of the 1960s, the bank's credit department grew from processing transactions from some 200 local merchants to 3,000. In 1966, CB&T built a separate operations building, and, after attempting to form a joint venture with W.C. Bradley Company to computerize processing, CB&T installed its own computer. Finding trained computer operators was difficult and expensive; instead, the bank trained some of its own personnel, establishing a computer department. By 1969 the company was writing its own software to handle processing of its credit card accounts. Joining the team developing the bank's software programs was Richard Ussery, then in his fourth year with the bank (he joined CB&T as a teller in 1965). As more banks instituted credit cards and struggled to process accounts, they were attracted to CB&T's processing system. Ussery told Georgia Trend of

Visual Literacy in Business Essay Example | Topics and Well Written Essays - 250 words - 11

Visual Literacy in Business - Essay Example When putting together a communication piece through the use of visuals, there are important steps to follow. The first step is organizing the data to present. There are two fundamental possibilities in the organization of data, and they are charts and tables. Neither of these possibilities is better than the other though each has its specific purposes and strengths. The most crucial point to consider before commencing the process of designing is the main point of the presentation. The second step is highlighting the data. When designing the charts, it is important to recall that the human brain intuitively recognizes the differences in size, shape, color, orientation, and hue and attach particular meanings to them (Apkon, 2013). The visual properties are known as pre-attentive variables since the process of perceiving them is immediate and automatic and does not need the involvement of conscious thought. The designer should use this knowledge for the purpose of intentionally highligh ting the most important information. The third and last step is showing the data. It is important to display only the content that is meaningful and leave the items that are extraneous. It is not advisable to decorate the data since it may hinder and distract the audience from perceiving what is irrelevant and what is important (Apkon, 2013). Failure to follow these steps will lead to distracting the audience who will not understand the main point of presenting the visual communication

England and Its Colonies in The Moonstone (by Wilkie Collins) Term Paper

England and Its Colonies in The Moonstone (by Wilkie Collins) - Term Paper Example Eliot’s comment: â€Å"The first and greatest of English detective novels... a genre invented by Collins and not by Poe† (310). Rarely has the novel been thematically known exposing British colonial relations with India. John Reed first paid attention to this in his 1973 seminal essay, â€Å"English Imperialism and the Unacknowledged Crime of The Moonstone,† where he argued that, what the novel probes is, actually, not the personal but the national guilt, neither is the individual but national values. Meaning, the novel does not simply uncover a personal crime, but rather the social crime of imperial British against its subjected race, India. (qtd. in Sabin 89) On the contrary, Ashish Roy sees the novel essentially defending British imperialism by showing that good Victorians, like Lady Verinder, never condone such violent abuses. (qtd. in Sabin 89) Nayder somewhat supports Roy’s contrary view, saying that, though The Moonstone evidently proves that Victor ian detective fiction investigates socio-political issues from imperialism to class and gender relations, its investigation usually ends up blurring the guilt or crime of British imperialists, while putting the colonised race into negative light (184). For example, Blake, Murthwaite, Bruff and Sgt. Cuff, though, had wrongly accused the Brahmans of stealing the moonstone; nevertheless, the Brahmans had been portrayed ruthless killers in the novel. Likewise, Trollope suggests that The Moonstone’s diamond mystery actually shrouded rather than exposed Britain’s real interest in India which is not simply India’s wealth but its land (qtd. in Daly 66). Britain wants to possess India for its territorial expansion, and not to simply loot its wealth. Whether, for or against, the theme of British imperialism is evident in the novel’s texts. Moreover, Spivak noted that, it would be impossible reading the 19th century British literature without taking into account Bri tish imperialism, which England made its noble mission to society, because that was the very social context with which authors create their imagination (qtd. in Jolly 381). Thus, understanding Collins’s work from this perspective would not be irrelevant. As Nayder explains, authors of Victorian detective fiction thematically make use of crime and policing to subtly examine broader social issues (178). Looking through The Moonstone’s plot, theme, symbolisms, characterisation, and literary technique, the novel evidently fits this description. The novel is not simply a detective or a romance-detective fiction; imbedded in its intricate plots of crime investigation is the exposition of British imperialism, mainly demonstrated in a master/superior (English) – subject/inferior (Indian) relationship. A. The Novel 1. Backgrounder The Moonstone, which Collins had started by mid-1867 in his mid-forties, was his fourth but also his last best novel. After this, his succeedi ng works were considered either mediocre or failure; such was attributed to his deteriorating health condition at that time. (Page 20) Significantly so, he wrote The Moonstone at the most pressing time of his life: His most beloved mother got sick and died while he was painfully suffering from his worst attack of rheumatic gout, disenabling him to attend his mother’s funeral. But against all these, he had to keep writing; much has yet to be written for the magazines, All the Year Round (England) and Harper’s Weekly (USA), which had started serialising The Moonstone, not to mention his

My Life in the United States Essay Example | Topics and Well Written Essays - 1000 words

My Life in the United States - Essay Example My father called one of his friends who was studying at the US and enquired about the university in which he was studying. In 2009, I came to the US. I began studies in English Language Program at VCU and this was because I was not a native speaker of English. After that, I improved on my English as a second language day by day. When I was in ELP, I had difficulties in two classes, these were Listening and Reading, but despite this, I performed well in the tests. While in ESL, I met new students from different countries and I had a great time with them. My professors were also understanding and helpful, making my learning much easier. At the Fall semester in 2011, I completed my English Language Program. Since then, I have registered 16 credits which are Public Health, LS 100, ESL Reading, Mass media and ESL Communication. These classes make me confused, considering the fact that this is my first time as an academic student in my whole life. I found this semester to be hard and confusing at the beginning. This is because some teachers speak very fast and I find it hard to take notes in class. However, I believe that as the days go by, it is going to get easier and normal for me. Besides, I have to concentrate on what I came to do in this institution. In addition, UMU is a great university and the professors are going to teach me what I have to learn. I hope that my classmates and I will get good grades in all our classes. I believe in my father's famous quote that says, †would never reach your goal without difficulties.†

The Basics of Interpersonal Relationships Essay Example for Free

The Basics of Interpersonal Relationships Essay After considering your request for advice on interpersonal communications I have come to the decision that the information I have learned in my communications class could be beneficial for a young, recently engaged couple. Addressing the most important points could be useful, especially now that you both have decided to take your relationship to the next level. I have learned in this class that having good communication skills benefits everyone and that it is particularly important in building a stronger and more successful marriage. Although we communicate without giving it much thought, not everyone has the proper skills to communicate well so I have selected five areas of interpersonal communication which I will pass on to you in this letter. The skills I consider to be most crucial in achieving a long and happy marriage are, principles and misconceptions, self-concept, gender and cultural differences, nonverbal communication and last but most importantly, listening. There are many communication skills necessary to ensure a successful relationship, and when it comes to effective interpersonal communications there are many aspects of communicating that we need to remember. Communication and the way we communicate is said to be what separates us from our animal cousins. It is defined as â€Å"a process by which we share ideas of information with other people† (cited in Sole, p.5). Whether it is verbal or nonverbal, communication is the most important aspect of building a lasting relationship. Principles and Misconceptions To begin with I would like to explain a little about the principles and misconceptions in terms of interpersonal communications. It is necessary to mention that â€Å"Communication is not simply the exchange of words and information; it is the means through which we share knowledge, thoughts, ideas, and feelings with other people†¦the way people connect with other people†¦and it is these interactions that create the meaning and richness of life† (Cited in Sole, preface). Linguists who have studied the basis of the human language believe that the human language uses symbols such as words, pictures or objects to represent something else. It has been agreed upon that certain communications symbols stand for certain sounds or written combination of letters to equate to a particular object (Sole, 2011). Because the meaning of a word can conger up different images for everyone it is crucial, that when communicating with others, that there is a shared understanding of the meaning of the words to eliminate any misconceptions for either the person speaking or the person listening. Improving your interpersonal verbal communication skills enables one to be better understood and results in fewer miscommunications. Let me stress at this time that it is imperative that you take the time to get feedback when having a conversation in  order to make sure that the other person understands exactly what you are saying. Although it has been thought that good communication skills between loved ones are strong, recent studies show that couples are often times no better at communicating with one another than they are with strangers. I recently read an article that was published in U.S. News World Report in January of 2011 on communication, as it pertains to close relationships. The outcome of a study done by professors Kenneth Savitsky and Nicholas Epley offers valid examples of common miscommunications with couples. . As the study co-author Epley points out â€Å"Our problem in communicating with friends and spouses is that we have an illusion of insight (Epley, 2011). Many of us tend to assume that those we care about will be able to interpret the information we are offering without needing clarification. Well, this does not always happen. Effectively translating and conveying information while being sensitive to other people’s feelings is a skill. Even though communicating is often times complex, with continuous practice we can avoid the misunderstandings that can lead to problems in our personal lives. Having affective interpersonal communication skills can be the beginning; the initial step for bot h of you toward a mutual understanding which can lead to a successful relationship (Sole, 2011). Another important aspect of interpersonal communication that I would like to share with you is that of self-concept, which can be described as a complicated process that involves our gaining self-awareness, or in simpler terms, self-concept has to do with how we see ourselves as well as how others see us. It develops as a child and with the proper guidance can develop into a healthy image of one’s self. On the other hand negativity can also affect how we see ourselves (Sole, 2011). A child who grows up with positive reinforcement is more likely to be a confident individual who possesses the ability to converse in a more effective manner. It is here that I would like to disclose to you some personal information that will show how vital self-concept is. I was the product of a broken home. Now, you may argue that this is not unusual, but you should keep in mind that I grew up in the sixties; divorce was not as common as it is today. I was raised by a verbally abusive mother and suffered for a number of years as a young adult from low self-esteem, and as I have learned from taking this class, low self-esteem leads to insecurity and a lack of confidence. I worked for years to reverse the damage that was done. I was well into my thirties before I had gained the confidence necessary to build a good relationship. Since the psychological concepts of self relates to interpersonal communications in many ways, this is a critical factor in communications, not only how it affects the way we interact with others, but how they interact with us. In the textbook, Making connections: Understanding interpersonal communication written by Kathy Sole (2011), she notes that, not only is self-concept learned, it is changeable. It is developed through interaction with other. In other words, self-concept, self-image, and self-esteem not only define who we are, but govern relationship quality. Having a positive self-concept leads to positive self-image, this in turn ensures a more positive feeling of self-esteem (Sole, 2011). Gender and Cultural Differences From here we can start to access other problem areas that couples are confronted with such as gender and cultural differences. Gender and cultural differences is an area that many couples have difficulty with at one time or another. I am sure that you have noticed the diversity that exists when comparing the way men and women carry on a conversation. Even though we all want to connect to others there are distinct contrasts; not only is the language different between men and women but facial expression and body language are different as well. Words are interpreted differently. This can be said for cultural differences too. Generally speaking though, both men and women can be nurturing, sentimental and even aggressive. The afore mentioned emotions, as well as how we perceive each other and nonverbal communication, all go hand-in hand when striving to achieve effective interpersonal communications. Nonverbal communication It is surprising how much can be communicated without uttering a single word, or what is called nonverbal communication. Nonverbal communication can relay a message through a frown, a cold stare, or even shrugging your shoulders. Nonverbal  communications (the process of communicating by sending wordless messages) can time and again lead to being misunderstood. Nonverbal communications encompasses not only body language, but facial expressions, and can even convey communications simply by how we choose to dress. Since very few gestures are universal, there is often times moments of awkwardness (Miczo, Segrin, Allspach , 2001). What we consider perfectly acceptable may offend a person from other cultures and some messages we send via nonverbal communication are done so unconsciously. When we use nonverbal communications we are substituting those gestures instead of using words and sometimes nonverbal messages are misunderstood (Sole, 2011). This type of communication is often times misinterpreted. For example, there was an instance when I was much younger that I found myself at a social gathering with not only friends, but people I had not yet met. It was at this function that one of the men in the group was telling us of an incident that he had recently experienced. Because I smiled and laughed in, what he considered to be, all of the appropriate places he took this to mean that I was interested in him. It was embarrassing for me because that was not the case; I was simply being a polite listener. So you can see from my experience, our nonverbal communication is as important as the words we choose in communicating with another individual or group of individuals. Remember that having an emotional discussion with someone and using the wrong hand gestures and/or facial expressions might cause a person to misinterpret or misunderstand what you are actually trying to convey to them. Listening Last but not least, and often times one of the most overlooked issue when discussing interpersonal communication, and what I feel to be the most important part of successful communication for couples, is listening. I am sure you have found yourself at times not giving your full attention when someone is speaking to you. A lack of motivation is often times the culprit. We all have a tendency to start thinking about other things if the speaker is not holding our attention, I am including myself, but to be a good listener ensures, that given all of the information, you will be able to offer a valid response. In order to relate to others it is important to listen to what they have to say. Even though we have been taught from childhood various skills such as reading and writing, one skill that is often overlooked is listening. Most of us feel that we are good listeners, but most of us are guilty of only hearing not listening. Listening is essential to the success of a compatible and long lasting relationship, but let me add that bad habits in regards to listening can be changed. Communication is the very means by which we share not only our ideas, but our thoughts and feelings with others In summing up the information that I have provided you with, it is my hope that the facts laid out in this letter will help you avoid the pitfalls of conversation that plague many couples. Remember Sam and Katie, that it is not how often you converse, but more the quality of your conversations with each other and that to be a good listener it is imperative that you make every attempt to give the conversation your full attention. It is  my hope that providing you both with information to build a lasting relationship through good communications will ensure a long and happy life together. Congratulations again to both of you. Keep in mind that there are other important aspects when it comes to communicating effectively, but I have shared with both of you essential information regarding what I consider to be five of the most significant areas that often effect good communication in a relationship. â€Å"Take advantage of every opportunity to practice your communication skills so that when important occasions arise, you will have the gift, the style, the sharpness, the clarity, and the emotions of affect other people.† -Jim Rohn, Author and motivational speaker (1930-2009),. Your friend, Billie References: Close relationships sometimes mask poor communication. (2011, January 24). U.S. News World,1. doi: 2270370592 Miczo, N., Segrin, C., Allspach, L. E. (2001). Relationship between nonverbal sensitivity, encoding, and relational satisfaction. Communication Reports, 14(1), 39-48. Retrieved July 28, 2012, from Research Library. Document ID: 72022836. Preston, P. (2005). Nonverbal communication: Do you really say what you mean? Journal of Healthcare Management, 50(2), 83-6. Retrieved from ABI/INFORM Global. Document ID: 814698921 Schoenberg, N. (2011, January 17). Can we talk? Researcher talks about the role of communication in happy marriages. McClatchy-Tribune News Service. Retrieved from ProQuest Newsstand. Document ID: 2240370261 Sole, K., (2011). Making connections: Understanding interpersonal communication. San Diego, CA: Bridgepoint Education, Inc. (https://content.ashford.edu) Sprecher, S., Hendrick, S. S. (2004, December). Self-disclosure in intimate relationships: Associations with individual and relationship characteristics over time. Journal of Social and Clinical Psychology, 23(6), 857-877. doi:224670343