Essays on Drury

Introduction

In the wake of multiple aircraft disappearances and accidents, the aviation safety remains a great challenge within the aviation industry today. Human roles on the flight deck, maintenance and inspection are seen to be the leading contributors of most aircraft related accidents. Aviation maintenance and inspection procedures are part of a complex organization where most individuals undertake varied tasks in an environment characterized by time pressures, insignificant and sparse feedback as well as difficult ambient conditions such as poor lighting, long day and night shifts. These situational characteristics and other human erring tendencies have resulted in varied forms of ...

Report on Sierra Ltd.

Report on Sierra Ltd.

Introduction

This report will assess the dip in profit of the Sierra Ltd. and will closely monitor the current costing and pricing strategies. It will also assess whether the activity based costing is suitable for the company or not. On further, if activity based costing is implemented, the steps that should be taken by the management to ensure the implementation will also be analyzed. Mr. Kaur’s suggestions will be deeply assessed to ensure if going along his way is safe and profitable. The important concerns of the Sierra Ltd. are due to the refinancing to ...

Modern Yoga Manufacturers

Company summary and design of the value chain As a student in the field of business, starting up a Sensory Yoga Mat Manufacturing Company has been my major plan. Fundamentally, the Yoga mats refer to specially designed or fabricated mats that are utilised as an aid during the yoga practice, thus preventing the hands and feet from slipping. The company will be named Modern Yoga Manufacturers Company. In this way, the Modern Yoga Manufacturers will involve itself in the design of the modern sensory yoga mats, which have sensors to measure the performance, power and strength of the user. ...

MANAGEMENT ACCOUNTING

Introduction Management and financial accounting provide platforms for an organization management to provide informed decision and policies. Organization management uses the budget as the accounting tool in formulation of policies and allocation of resources in different activities. Accounting encompasses the entire body of knowledge that deals with recording and keeping of all financial transactions. It entails identification, recording, classification, verification, and communication of financial information relating to the resources of the organization. On the other hand, financial accounting is a subset of accounting and is concerned with the use of financial data to measure economic performance of the organization. ...

Costing is the process of tracing and allocating costs to a product, service, or a cost center (Drury, 2008). The cost of a product consists of both direct costs and a fair share of overheads. There are number of costing techniques that Monster Beverage can use that include process costing, job costing, absorption costing, and activity based costing (ABC). Process costing assigns costs to products as the move through various stages or processes (Drury, 2008). In process costing, costs for each process are accumulated over a period such as a month and then the average cost is allocated to ...

MANAGEMENT ACCOUNTING

Introduction Management and financial accounting provide platforms for an organization management to provide informed decision and policies. Organization management uses the budget as the accounting tool in formulation and allocation of resources in different organization activities. The managers are the custodian of the budgets under the management and financial accounting. Financial statement and records provide viable financial data that helps in organization management especially in decision-making. Therefore, the study focuses on the management and financial accounting and expounding on objectives of the budget in an organization. The study will also provide the need of using variance analysis in organization ...

Abstract

Religious art has been present in art history for a long time. However in different periods it was used in different ways. In Early Renaissance people used to show their faith with it, whereas in the High Renaissance and later Baroque, it became a tool in the hands of the Church. Nonetheless, history and the process of art development have provided us with plenty of artists and their masterpieces for all the future generations to study. The works of Antonello da Messina, Leonardo da Vinci and Rembrandt van Rijn are considered the best examples of each period in question ...

Fiscal year also known as accounting year is the completion of a one-year accounting period of an organization. Fiscal year of a company has no connection with the calendar year. A fiscal year may or may not end on December 31 of a year. Fiscal year is stated by expressing the year end date. A fiscal year end can be end date of any month during the year. As per the definition of Internal Revenue Service (IRS), a fiscal year is defined as twelve consecutive months ending on last day of any month of the year (Drury, 2011). Fiscal ...

There is a wide accepted concept that after centuries of development, the Muslim world began to decline in the 15th century. Did it really decline? In this work I would like to illustrate the main trends of developments of the Muslim world in early 15 – early 20 century. We know that in part of the second millennium, and for five centuries later there were many Asian invasions in other regions of the world, wide expansion (Seljuk, Arab, Turkish). But then the stagnation began. Since the "golden age" of the Abbasid Empire, it has not changed territorially. And large areas ...

MANAGEMENT ACCOUNTING REPORT

Introduction This report covers budgeting, break-even analysis, and the analysis of make-or-buy decision. The budgeting details the purpose of a budget and the importance of involving staff in developing a budget. The report contains a direct material purchase budget (in units and in dollars), a direct labor budget (in hours and in dollars), and a manufacturing overhead budget. The break-even analysis compares the hammer division break-even point locally and in Myanmar. The break-even analysis indicates that the business will have a lower break-even point if they shift the hammer division to Myanmar because of lower fixed costs and reduced ...

This analysis considers the cost behavior of the various cost items in order to determine the cost and profit at various levels of activity. Fixed costs are costs that do not vary with changes in output. Variable costs are costs that change with changes in output. Semi-variable costs are costs that are partly variable and partly fixed. Stepped fixed costs are costs that remain at a particular level of activity but step-up to a new level when activity level exceeds a particular point (Drury, 2012). In this case, the cost items are classified into either fixed costs, variable costs, ...

Introduction

This paper explores the costing and pricing methods applicable to firms in the tourism and travel sector using Allegiant Travel Company as an example. Allegiant Travel Company is an American company providing leisure travel products and services to under-served cities in the US. It provides air transport, air transport-related products, travel protection products, hotel rooms and other third party travel products. The paper also analyses the financial statements to assess its financial state.

Costing methods

Several costing methods can be applied in the tourism industry depending on the nature of the assignment and the operations of the organization. Applicable costing methods ...

Introduction

The pricing strategy should be an integral part of decisions in the marketing position, and it should depend on the overall development strategy of the business and marketing plans. Therefore, companies should not set one price but a pricing structure that should reflect on the variations in geographical demand, costs, the timing of purchase, requirement of market segments, order levels, the frequency of delivery, and service of contracts.

Why different pricing strategies are appropriate in some circumstances

Pricing is an important managerial decision, and most firms do not encounter pricing decisions in major ways on daily operations (Weygandt, Kimmel and Kieso, 2009, pp.59). However, there is a need ...

Institutional of Affiliation

Chun-Ping Changa and Chien-Chiang Lee research to identify whether presidential approval varies with the economic performance of a country have found out that people approve more of regimes as their economic performance is. This nonlinear relationship identifies that presidents whom the economy performs best when they are in power will receive more approval than those who the economy goes downhill. Due to the recent unemployment rates and recession and raising debts of Americans President Barack Obama popularity had been going downhill, the little unpredictability of the economy results to quick reaction from Americans than any other incident. Voters have ...

Summary

This paper will summarize the proposed research methodology of my dissertation topic on gender discrepancies in regards to African-American education. There has been a noticeable, growing increase in the presence of African-American women in undergraduate and graduate education while the gap between African-American males and females has widened. The dissertation will use mixed methods, grounded theory perspective to determine why this is the case. The overall theoretical perspective of the work will be rooted in critical race theory and poststructuralist concepts. Quantitatively assessed questionnaires and coded qualitative interviews will attempt to answer the question of why African-American male participation ...

Introduction

Today many people consider establishing their businesses with the aim of increasing their income streams. However, it is imperative that prospective entrepreneurs have knowledge on the types of business units prescribed by law. This understanding enables them understand the risks associated with particular business units and the capital requirement involved. After deciding the type of business to invest in, entrepreneurs must consider the sources of finance available to them, and the type of accounting skills necessary for running of the venture. Hence, this report analyzes different forms of business units, types of accounting skills, and sources of finance available ...

Managers as well as accountants need financial information to help them make managerial and accounting decision that are very crucial for both internal and external consumers of this information (Drury 2008). To be successful in this area both managers and accountants need to have full understanding on the different types of cost and their calculations. There are different ways of classifying cost for example, manufacturing costs verses Non-manufacturing costs, fixed costs versus variable cost and finally product cost versus period costs. The most important thing that managers and accountants need to know is how to treat variable costs and ...

In determining the price of a commodity, a cost/management accountant must rely on valid cost information so as to arrive at a price that will incorporate all the relevant costs. Not all costs that are involved in the production of a commodity will have a direct impact on the price of such commodity, it’s with this understanding that management rely on cost information in making pricing decisions.

Organizations need to decide the prices that are acceptable for their goods and services. However, sometimes the prices are determined by the market forces of demand and supply and thus a firm will have little or no ...

In the traditional methods of absorbing overheads, the costs were allocated to the various products based on the production output, sales, head count or the square foot occupied by product operations. There are several disadvantages of traditional methods. First of all, it leads to under costing and over costing of the products. Due to the arbitrary allocation of overheads by sales or production output, the company is not able to see the hidden costs and profits of the different products. It also distorts profitability analysis. Furthermore, it causes the manager not to pay attention or particular detail to the ...

- Apportionment, Allocation, and Absorption of Overhead

Total overhead=€650000, Thus overhead as percentage of Direct material cost=650000/3430000*100=18.95%. Thus overhead to be absorbed to Econo bikes at 18.95% of €2150000=€407425, and to Luxi 18.95% of €1280000=€242575 **Under the blanket overhead absorption rate as was the practice, the €650000 overhead absorbed between Econo and Luxi was 2000/3000*650000=€433333 and 1/3*€650000=€216667 1. After all the service department costs are apportioned to the production departments, the next step is to spread the factory overhead to the different products or job produced. This is ...

Is Diabetes Dangerous to us?

Abstract In recent years, the medical experts and practitioners have expressed alarm over the growing number of diabetes related deaths. While most agree that the issue deserves attention, the unison agreement revolves on how to respond to the problem of diabetes management. This paper approaches the problem of diabetes management through the enforcement of dietary measures and new lifestyle approaches. The paper compares the response to diabetes management measures across the sexes with examination focused on the glycaemic and stress levels. The examination indicates the effects of the current diabetes management system that combines medical, social and dietary ...

The reason training schedule is to have a clear plan on the events that will take place during the induction process of the new staff. This will cater for the new hires through the first months of their employment as well as on their jobs with regard to their respective position. The purpose of this training is to congratulate the new staff members on making it through the recruitment process. In addition to that is to make employees feel part of the organization, this will be made possible by organizing a ceremony for them. Therefore, it is recommendable that the first ...

There is a growing area of concern between the rights of patients and the often necessary practical needs of the students in the medical field. The debate has majorly focused on whether patient’s rights are infringed when a case of negligence or misdiagnosis has happened in a medical facility that has been set up to cater for the needs of the patients and to horn the skills of medical students. Cases of medical malpractice have been on the rise which has led to fatalities and other unplanned costs (Lim, pg. 6). There have been a number of cases whereby patients have lost ...

Answer 1

The profit will be calculated by deducting total costs from price. To obtain the profit percentage for each of these products, profit will be divided by total costs and the answer will be multiplied by 100. For the full costing method, fixed and variable costs will be included (Hughes, 2012). These costs will include material costs and direct labor hours. For phones, the cost will be £ 90 + 2 * £ 8 = £ 106. For tablets, the cost will be £ 140 + 2.5 * £ 8 = £ 160. For computers, the costs will be £ 315 + 4 * £ 8 = £ 347. The profit margin for phones will be (£ 170.69 - £ ...

Introduction

Accounting and finance are two different things and most of the people have been regarded them as similar things. Accounting is the name to record the day to day transaction of a company, while finance is the name of utilizing the funds of an organization at a place from where the likelihood of earning would be on a higher place. The concept of accounting and finance is totally different with each other but most of the people regarded both of them as single and identical one. Accounting is the name of to record the day to day transaction of a company, while finance ...

- What is Agile and what are user stories? Agile refers to a software development methodology that provides more efficient ways of handling and managing software development projects as compared to traditional methods such as the waterfall development methodology. Agile development allows for the evolution of requirements and problem solutions through the collaboration of cross-functional teams. The methodology promotes evolutionary development, adaptive planning, continuous improvement, early project delivery, and promotes rapid response to change. Agile has some unique characteristics and emphasizes more on interactions than development processes and tools. The methodology also places more focus on delivering working software ...

Introduction

In this assignment, there is an analysis of ABC Company. The aim of this assignment is to help the CEO on various aspects and plans which will be helpful in the expansion of the company. This company specializes in manufacturing of roofing and siding shingles that are making annual sales of $1.2 million. This sale is 25 percent higher than last year sales. The company target is $3 million in the upcoming three years. In order to achieve this target, ABC Company is trying to add new products, which will help the company to raise its revenue. At the ...

Introduction

I agree that Standard Costing and Variance Analysis are vital and crucial for any kind of business. I will support this position by showing the importance of standard costing and variance analysis for businesses. In light of this statement, I will also show that standard costing and variance analysis are as important to small businesses as they are to large organizations. Variance analysis is the comparison of standard costs and actual costs hence it is important for any type of organization. This is because controlling costs helps in identifying ways in which costs can be controlled thus enhancing efficiency ...

Standard costing and variance analysis

The standard cost is the predetermined cost that is carefully and definition. The estimated cost of the production of a single unit or the cost of different service performance is done (Rajasekaran & Lalitha, 2011). This is the narrow definition of the standard cost. The broad meaning of the standard cost is the estimated production cost that is involved in the projects, operation production and the administrative purposes. The standard costing uses the techniques that standardize the cost and the revenues. This is in the purpose of controlling the cost factors and the determinant through the variance analysis. It is ...

Introduction

When it comes to organizations, then there are two important things which are more than essential for them, which particularly are cost and revenues and both of these provisions are quite important for the sake of an organization. Organization basically refers to a place wherein people belong to different demographics and mindset work together merely for the achievement of a single and pre-specified goal in particular There are certain things which are more than essential for a company to manage their operations and financial structure. Among these provisions, the name of costing is one of them, which has its own significance ...

Part A

The standard cost of a good or service is the pre-determined cost of a good or service depending on the various circumstances that surround the business. Standard costing is therefore is an accounting concept that helps to determine the standard cost of a good or service. The predetermined costs are compared to the actual costs and the difference makes the variances (Berger). The variances are analysed thoroughly to find out why they exist and also to find a way to mitigate the risks that come with it. Most companies, big or small, need the standard costing procedure due to various reasons. Standard ...

American Grace: How Religion Divides and Unites Us was written by Robert Putman and David Campbell. It gives more information about the aspects of religion in America. In this book, the authors give a wide coverage on the different aspects of religion in the past and contemporary American society. They use appropriate sociological methods in the collection, analysis and presentation of data. First and foremost, they give factual information which is based on their own research and that of the other scholars. A part from relying on their own surveys, they use secondary sources from Gallup, the Pew Religious Landscape ...

Allocating Fixed costs

Fixed can be described as those costs the form or organization incurs whether or not it is producing any goods or services in the current period. In simple terms, costs that do not decrease or increase with change in production. They are only affected by structural changes or changes in the rate of inflation (BPP, 2013). Fixed costs are only variable in the long run but constant in the short run hence their name fixed costs. Allocation of cost can be said as the process of aggregating, identifying costs and allocating cost to cost entities. Hence, allocation of fixed ...

The project is about creating a surf competition to improve the BILLABONG Company sales. The surf competition will be used as an aid to raise money for a specific charity. Furthermore, raise awareness about the charity being supported. At the end some individuals would have received help from the cash collected, but at the same time the project will also have promoted the Billabong company image and profile. The project would still add value to the Billabong Company because it will hopefully increase sales through exposure. This is the primary objective of the project. Billabong as a company was established in ...

a) Discussing the roles of planning and control in the budgetary system. Comprehensive budgets will have two basic functions, which are planning and control. It is for this reason that the organization needs to decide the function, which is most significant, and later resolve a range of formulation issues. The budgetary systems will be used in evaluating managers' performances and at the same time, tie their bonuses to the attained targeted goals. However, while the company is extensively concerned with operational efficiency, it should focus on the control and coordination of various aspects of budgeting. The extent to which a budget ...

The current paper examines the issues of strategic management accounting including stages of strategic management process, the roles of management accounting, concept of opportunity costs, concept of relevant and irrelevant costs, cost classification and practical application of breakeven analysis. Besides, it contains examples illustrating some of the above listed concepts. The claims are supported with relevant arguments; the examples reflect the issues associated with running business in contemporary market environment. Each task is divided into sections related to different parts of each question. Each part of the question contains appropriate conclusions.

Main Stages of Strategic Management Process

According to ...

CVP and break even analysis

Introduction

Entrepreneurs utilize cost volume profit analysis (CVP) to identify levels of business activities essential in limiting loses emanating from lack of adequate monitoring and evaluation of business performance. As such, CVP offers a viable option for use to give a reflection of the estimates amounting as variable costs. Also known as break even analysis, it specifically gives an overview of how profits fluctuate due to variation in sales price, fixed costs, variable costs and quantity off products or services.

Start-up costs $60, 000 to 184,000

Fixed operating expenses $4000 per month Lease equipment $2000 Break-even 300 members a) According to the Cost-volume-profit (CVP) analysis, ...

(REF TO EXCEL DOCUMENT ATTACHED FOR COMPUTATION)

In order to ensure maximum returns to a company, a management accountant must ensure that goods are produced at the lowest cost possible so as to increase the margin of profit attributable to each product.Companys are however faced with the problem of deciding what particular products can be profitably produced in house, and those that should be sourced from outside suppliers given the given cost requirements of each product. In deciding the proper mix of the products that should either be produced or sourced from outside suppliers, a management accountant has to determine the ...

Balanced Scorecard Implementation

Introduction Rainbow Lighting Ltd manufactures light bulbs for both wholesale and retail sale. Since being acquired by the German company Eindnacht GmbH, issues of quality, profitability, customer perception and staff morale have come to light. Costs have also been incurred through the need to recall a faulty item in recent times. Rainbow Lighting Ltd has identified a number of areas that require improvement and has been given two years by its parent company to reach new benchmarks, to avoid operations being entirely transferred to Germany. Rainbow Lighting’s Managing Director has suggested the use of a Balanced Scorecard (BSC) in the ...

We all make decisions or are involved in processes of decision making in our everyday life. These decisions range from basic to complex ones and resources are involved to make best decisions. While other decisions can be made logically and rationally, others are made less consciously depending on different courses of action (Ganegoda, 2008). Decision-making is described as the process where a reasonable course of action that commits the decision maker to the future is selected from various alternatives. This choice is based on the preferences and values of the decision maker and is realized after ensuring all sufficient options ...

Experiment: Investigating the integumentary system.

Introduction Scientifically, the integumentary system consists of the skin and its appendages. It functions primarily as an outer protection for internal organs from bacteria. Superficially, the skin serves as a buffer to trauma. Its integrity decreases incidences of invasion by harmful organisms even when breakage occurs. (Martini 2009). Beside these basic functions, the integumentary system is also responsible for insulation by assisting in regulating body temperature; production of hair; excretion of waste through pores and a sensory station for the transmission of impulses when touched. Sensory receptors present within the subcutaneous layers are also pain transmitters. (Watson 2011)

Background to aims

However, ...