Essays on Sunk

Percy Bysshe Shelley’s poem “Ozymandias” focuses on the trend toward decline that always takes hold of the leaders of empires, particularly when they turn their attention away from fostering the growth of their people and toward perpetuating their own memories. Their pride shows forth in the erection of giant statues of themselves, on which they have artisans engrave all sorts of grandiose quotations about the unlimited power of their rule. They forget, of course, that all of us – not just individuals, but societies and countries – will come to an end at some point. This pride that makes people ...

Thesis Statement: The film illustrated how greed and blood lust of the people can lead to a bitter end after several African Americans became victims of exploited labor force which is in the simplest form of slavery employed by the Native Americans, who took advantage of their ignorance during the 18th century. 1.) The block quotation that was chosen and was compressed in the film which and should have been more highlighted is the line, “As the price of whale oil continued to rise, while the economy of the other countries continued to suffer due to economic depression, Nantucket ...

In this paper, we will explore the psychological impacts of two human-made disasters. One that happened during the First World War, and the other one is a recent terrorist attack in Paris, in 2015. The Lusitania Disaster was an attack from the German army to a British ship liner coming from New York to Liverpool, UK. The terrorist attack in Paris however was not a war attack, so people were not expecting anything as such. However, it can be argued that we are on a war today, that begun by several attacks of radical Islamic groups against the West. ...

Identification of opportunity cost and sunk cost

Sunk Cost refers to the cost that was incurred in past and cannot be altered through new decisions . It can also be called as irrelevant cost for decision making purpose since it has been incurred and it does not make any difference if the proposal is accepted or rejected. In the case of Tom, the sunk cost relates to the house purchase. During 2004, he has purchased the house in $500,000 which at present has worth $375000. The sunk cost here will be $125000 ($500,000-$375000). Opportunity cost refers to the benefits forgone due to the selection ...

Summary of Thinking, fast, and slow by Daniel Kahneman

George Mason University Summary of Thinking, fast, and slow by Daniel Kahneman Introduction The author, Daniel Kahneman, hopes that the readers would benefit from the reading of his book, which is about biases of intuition. According to the author, it can be a tough choice between what we believe and what we want. Friends and colleagues help us in making and evaluating choices. The thinking process is one conscious thought leading to another. The mental work creates impressions and intuitions silently in our minds. We allow our beliefs, feelings and preferences to feel confident about our decision, even if ...

1. The capital budgeting system for Target has three different entities. These entities include the real estate managers, the research and planning group, and the capital expenditure committee. The approval process of the capital budget allocation will start with the proposals that are passed on to the real estate managers, which they manage the specific geographical regions. The real estate managers will develop the proposal by gathering and satisfying the different details and all of the requirements in order to prepare it for the pitch to the CEC. The proposal is processed would then be sent to research and ...

Mapping

Mapping refers to the relationship between controls and their effects in the world. It is believed that all artifacts have the need for a type of mapping between controls and effects whether the device is a car, power plant, or the cockpit of an aircraft. A good mapping example is the up and down arrows that are used to represent the up and down movement of the cursor on a computer keyboard (Pierce & Sharp, 2002). Let us view mapping from other points of view to include Value Stream Mapping methodology which is used for the enhancing and immersing independent ...

Introduction

Wal-Mart is the world’s largest retailer with more than 4,300 stores in the United States and over 8,000 worldwide, with global sales topping $400 billion in 2009. It is the largest retailer in the U.S., where more than half its revenue comes from grocery sales. This paper considers some of the retail giant’s negative impacts. Since opening its first store in Bentonville, Arkansas in 1962, Wal-Mart has steadily spread from its base in the South and Midwest to dominate the suburban and rural retail market across the U.S. Wal-Mart is addressing the first obstacle – store ...

1.Costing is a very important part of accounting. It involves the basic financial data which will help in price fixing as well as in profit marking. There are many aspects to costing and each one is relevant depending on the product or service provided by the owner. Relevant costing is an important aspect in costing and accounting decisions. A relevant cost is the cost which is specific to a management decision. This generates only the information which is necessary for decision making and removes the unnecessary extraneous information. Relevant cost is only specific and limited to a particular decision ...

Dear Texas Bob,

The calculations made were based on formulas we deem fit. In obtaining the income, we used the cash flow method, which is simply the difference between the cash that flows in versus the cash that flows out of the business. That method would prove to be more accurate since in the retail food industry, cash is considered king. Likewise, we discounted the values using the present value formula. We deem it important that the time value of money shall be considered to accurately reflect the amounts, not in a nominal sense, but in its real sense. Lastly, we also ...

Introduction

Project management applies techniques, knowledge, skills and expertise as well as experience to a strategic activity in an organization as shown by Bolles and Hubbard (2007). Notably, a project is a unique venture in an organization undertaken to meet its goals such as new products, venturing into new markets or cutting the product costs. Expected, in the new and unique projects, the experience is insufficient or lacking for a disciplined implementation. In other cases, the project takes up a lot of resources and staff due to its size. As such, to meet the scope and requirement while meeting the ...

Part A:

Importance of Capital Investment Decision The university has now reached a stage where it cannot procrastinate the decision to build a new building and replace the existing one, which has now turned expensive to run and is also imposing a poor environmental performance. Therefore, it has now turned crucial for the university to replace the old building with the new one not only because the existing facility impedes the profitability position of the organization, but is also harming the environment and is thus sending a negative signal amongst the community. Henceforth, the university should proceed with the appraisal of ...

Summary of the ‘Mental Accounting Matters’

Richard H. Thaler (1999) in his article ‘Mental Accounting Matters’ discussed the procedure followed during mental accounting. Mental accounting can be defined as the cognitive operations that individuals and households use to organize, evaluate and keep track of their finances. The decision is arrived at by inferences to certain points and aspects, and observance of behavior. There are three components of mental accounting system. First is the perception of the outcomes, making decision and evaluation. The second is the assignment of activities of the specific accounts to be performed, and thirdly, the ...

Question one:

According to the cost benefit principle, an action should be taken only if the extra benefits from taking the action are at least as great as the extra costs. The economic surplus derived is $2.5. This is arrived at by subtracting the cost of doing the car wash personally that is, $3.5 from the benefit of having a washed car which is $6.

Question two:

At Smiths house, each child knows that the cost of failing to drink a can of cola now will result in the cola ending up being drunk by the other sibling. Each child, therefore, has a motivation to drink ...

The book In Harm's Way by Doug Stanton gives an insight overview of the events that transpired on July 29, 1945 when a heavy cruiser Indianapolis was sank by a submarine I-58 killing over 900 sailors. The American ship had just delivered the weapons that were to be used to bomb Hiroshima but as it was sailing back across the Pacific Ocean, Japanese submarines intervened and bombed the ship. The book gives a painful ordeal of what the sailors went through before the rescuing team arrived at the scene to save the few remaining survivors. The book majorly focuses on the ...

Question 1.

President Wilson attempted neutrality but, as the war went on, this became more and more problematic. However, the German submarine warfare finally pushed the President to send in troops and fight the war. The German side ruthlessly sunk a large number of ships and caused a lot of loss of property and of life. President Wilson learned of all this and, despite Germany’s claims that they would stop, they failed to do so. The president finally declared that the battle was now a war against all nations (firstworldwar.com). The President had been attempting to remain neutral for some time ...

DIVERSIFICATION AND ASSET ALLOCATION AS KEY FEATURES IN A PORTFOLIO’S PERFORMANCE AND THE RISK AND RETURN RELATIONSHIP.

We learn in fund hypothesis that diversification essentially implies not putting all your investments tied up on one place. Straightforward as the thought seems to be, most speculators do not hold portfolios that are even near to being genuinely broadened. Two reasons make this sensible target hard to accomplish. To begin with, most investors are not sufficiently trained to execute expansion. To represent my point, respite and check whether you are willing to lessen values when the trailing 12-month return on stocks is 20+ rate focuses higher than securities? Second, however not less critically, most financial specialists don't ...

U.S. History

The reason why the United States entered the First World War is justifiable. At first, the United States had pledged to be neutral; however, it later changed its stand when German mines destroyed and sunk several American ships that were travelling to Britain. The tension between Germany and the United States arose over Germany’s segregation of the Isles of Britain. Britain was one of the closest trading partners of the United States. In 1915, the Germans declared an unhampered warfare against all vessels and ships, whether neutral or not, that entered the war zones around Britain. ...

a. Purpose of Managerial Accounting Managerial accounting is the process of preparing accounts and management reports that provide timely and accurate statistical and financial information. Managers require such information in making short and long term decisions (Wild, Shaw and Chiappetta, 2013). Unlike financial accounting that produces annual reports used by external stakeholders, management accounting generates reports means for an internal audience and use. The objective of management accounting is to improve on the effectiveness of both control functions and management planning. Management accounting serves four functions; cost control, cost evaluation, management planning and performance evaluation. It provides ...

- So this is the ship they say is unsinkable. - It is unsinkable. God himself could not sink this ship. Every once in a while the conversations with friends or newly met acquaintances turn to favorite movies. Every once in a while “My Heart Will Go On” by Celine Dion comes on radio or music TV channel. Every once in a while close people talk about how true love never dies and how legends are never forgotten. And every single time Titanic is mentioned like a strongly attached, inseparable, and ultimate representation of the above mentioned categories, ever-present and ever-green. ...

The fundamental rule of economics is that it is a study of interaction of various market forces for utilization of the limited resources towards the satisfaction of unlimited demands of the society. The interaction and power of the forces of demand and supply determines the nature of the market. Microeconomics is the study which deals with the interaction of the individual demand and supply forces. The nature of such interaction and the relative influence of demand and supply forces would determine the kind of competition that exists in the market i.e., perfect competition or imperfect competition. The paper has been ...

United States of America joined World War 1 on April 6th, 1917 joining other countries like France, Russia and Britain. The U.S. troops of more than two million fought on the battlefield and were commanded by Major General J.P. Pershing, and the president was Woodrow Wilson. On April 4th, 1917 two days before joining the war, there were 88 U.S. senate where ninety-three percent voted in support of the World War 1 against Germany. The first WW decision was endorsed by the House of Representatives by 88 percent votes in support of the war where the U.S. formally joined ...

Capital Budgeting

Answer 1) Change in Interest Rates: No, finance costs related to one particular project, should not be considered while estimating the incremental cash flows of the project. Hence, all the expenses related to financing, i.e. interest expenses should be ignored. Important to note, if the manufacturer wishes to include debt financing, the cost of the same shall be reflected in the cost of capital/discount rate that is used to discount the cash flows calculated.

Answer 2)

Sunk Cost The cost of studying the golf clubs will be categorized as sunk costs and hence, this cost will not be ...

Introduction

Many companies expand their operations through capital projects. Capital budgeting decisions are critical since capital projects involve a substantial outlay of financial resources. In addition, most of these projects are irreversible. It follows that a company must exercise due diligence in evaluating a proposed capital project before deciding to accept or refuse the proposal. Correct estimation of expected cash flows from the project is key to the sound evaluation of the viability of the project and hence an appropriate capital budgeting decision. This paper explores the costs and items included in the determination of cash flows expected from a project to manufacture golf ...

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Executive summary

In understanding cost and pricing dynamics in relation to profitability, at least four issues face the cost accountant in tracing product or service costs, the value of which will be used as an essential input in pricing decisions. These are complexity, accuracy, ease of estimation, and time. Joint cost allocation is an example of a complex cost tracing due to inevitable data gaps. Sunk costs exemplify a type of cost the accountants normally consider as marginal and, therefore, may be ignored in the cost trace. Opportunity costs also possess a unique characteristic in its “potentiality” by nature, although quantifiable based on ...

- A firm that does not have access to capital markets is using equity or owner’s money to finance its projects. This means that there is no fixed charge on the investment that is being ploughed in the business. There is also fixed monthly payment for the use of the funds. It is the reason why this firm will measure the profitability of its projects using the payback period rather than the NPV which takes into account the cost of borrowed funds. - A mutually exclusive project differs from an independent project in terms of the size ...

Introduction

It’s been over two decades that the agenda of the deregulation was adopted across nations, yet till this day regulation of the telecommunications sector continues to pose challenges. Only a few countries has been able to work out viable models of regulation of this sector while many countries still have public owned telecommunication systems (Grote, 2006). What remains a challenge in bringing about effective competition is the cost and economies of scale of incumbent networks. Hence empirical evidence shows no clear trends of changes in incentives vis-à-vis changes in the regulations on the sector. The US telecommunication sector ...

Organization Background

AMCOM Communications Limited Inc. is an Australian company that deals with varied investments in technological and high speed connectivity service products such as cloud computing services, speed connectivity, communication tools, and internet communication tools to government, corporate, and wholesale customers (White, 2011). Consumers can access these technological products and tools from mobile and web platforms. Marketers, traders, and other users can easily connect with their audiences using these technological and financial products offered by AMCOM Communications Limited Inc. Over the last five years, the company has faced financial trouble and declining revenues forcing the company to implement a strategic therapy ...

Management

A manager’s job is based on what type of decision he or she makes daily. He is tasked with ensuring that the decisions he makes help to grow the organization not to retard it. One of the steps in decision making process is problem identification. A problem in the offing means that there is a decision at stake to be made, whether positive or negative. Decisions should not be arbitrary but should be directed to a certain problem at hand. After problem identification, a manager then goes ahead and seeks information so as to ensure that he does not make a ...

Budgeting

Budgeting It is very important for the management of the production or manufacturing business to identify the nature of the costs and expenses to maximize the profits of the business. In a manufacturing business, the management must utilize their labor and machines to minimize the idle time. Moreover, the main expenses of the business such as, rent of the factory and utility bills are those fixed expenses that must be recovered from the proper activity level of the production. Therefore, in these circumstances, the costs which are already incurred are called the sunk costs of the business and the ...

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Essay Answers

- The Reconstruction Period The American Civil War (1861-1865) served as a revolution to the economical, social, and political structures in the country. Consequently, the years that followed the Civil War are referred to as the reconstruction period as both Northern and Southern states sought to rebuild their lives. The plan for reconstruction was developed by President Lincoln Abraham before the end of the Civil War (Ladenburg 8). The first aim of the plan was to, “bind the nation’s wounds” (Ladenburg 8) after the rift that had developed ...

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Problem 1 Opportunity Cost - Define the term “Opportunity Cost” Opportunity cost is the value of the foregone mutually exclusive alternatives. When choice are to be made between several mutually exclusive alternatives in terms of decision making, opportunity cost is the value of alternative that is forgone due to selection of some other alternatives. Generally, opportunity cost is the value of next best alternative that can be achieved with same input. For example: George had $2 in his pocket which is enough to buy either a cup of tea or a cup of coffee. Among ...

Abstract

Outsourcing developed a very high dynamics among the small companies in the 21 century “In the United States, payroll is already outsourced 46% of the time and tax 30% of the time” (Hagel, 2013). According to WTO, “The novelty of 21st trade lies in the quantitative dimension. To illustrate what is really new, it is useful to put 21st century trade into the broad context of globalization” (2011, Baldwin, p.4). There comes a question why should the companies outsource and what they should not outsource? The answer to this question lies in many dimensions with the key tendencies in the field ...

The First World War broke out in the month of July 1914 and went on up to the year 1918. The main rivals in this war were Russian Empire, United Kingdom and France against Germany and Austria-Hungary. The United States of America prima facie was not a party in the said war; rather it took a neutral position initially. This submission seeks to bring out and explain reasons that caused the United States of America to move from neutrality to become an active participant in World War One. The war was caused by long standing conflicts among the European Super powers ...

The Gilded Age refers to the period in history in the United States between the year 1869 and 1896 which was also coupled with political paralysis. This period which occurred after the civil war and the reconstruction era was marked with sheer ineptitude and corruption. The two dominant parties at the time were rooted in religion and ethnicity with fierce competition for offices and votes. In return, they dished out benefits to veterans in politics and other special interest groups in reward for their loyalty. This paper shall argue that politics in the Gilded Age sunk to a low level ...

The United States providing subsidies for corn upsets their competitors such as Mexico because it would subject them into unfair competition. The Mexicans traders would face fluctuation in prices of corns due to the subsidies in America. It implies that the American government would disadvantages farmers or traders in Mexico in the sense that that they would not be trading on the same grounds as to the America based traders (Holland, 2009 p 210). In other terms, it means that subsidies in America would lead to unfair competition such as the terms and condition of the trade. The government ...

Discuss the characteristics of “relevant information” in the context of managerial accounting and strategic decision making. What are opportunity costs? What is the relevance of sunk costs when analyzing new opportunities? One of the major roles of the managers is to make decisions where they must choose the most suitable course of action; this role can only be fulfilled successfully when the manager is able to acquire the relevant information. There are basically two broad characteristics of information which makes it relevant including it being future oriented and the presence of alternatives. Any historical information can not differ ...

The Battle of the Atlantic is known to be the longest military campaign. It took place during the world war II starting from 1939 to 1945 when the Germany was defeated. The Battle of the Atlantic involved U-boats as well as other warships of the German Army (Kriegsmarine) and German Air Force (aircraft of the Luftwaffe) which fought against the Royal Navy, Royal Canadian Navy, and merchant shipping considered being allies of the three. The convoys from North America to United Kingdom and other parts like Soviet Union were greatly protected by the Canadian and British navies in conjunction ...

“Since the effect of frustration is to kill the contract and discharge the parties from further liability under it, the doctrine is not to be lightly invoked, must be kept within very narrow limits and ought not to be extended,” Bingham LJ, Lauritzen. The obiter by the Lord Justice informs the subject of this paper’s discussion. The paper seeks to examine the spirit and the letter of the law in the application of the doctrine of frustration of contract. The paper assumes a legal character that would include consideration of common law approach, statutes and case laws. In addition, ...

- Cash flow Caledonia should be focusing on free cash flow instead of accounting profit. This is due to reason that free cash flow may be used by companies to reinvest once again. Cash flow once examined can assist the company to analyse the benefit by timing it. Also, cash flow is the only available to the shareholders after taxation. To add to that, incremental cash flow are the increased values to the company from accommodating the project becoming the marginal benefits. - Depreciation Depreciation is the decrease in value of an asset, but not a cash ...

Section 1 - "An Analysis of the Battle of Goose Green"

The history of past battles is often studied and analyzed for a variety of reasons. However, in most cases, it is failures rather than the successes that are being analyzed whenever military history is studied. Close affairs are quite common in a majority of battles; either side could have been victorious. In many of these battles, it is not the things done right by the winner that decide the final result, but the things done wrong by the ruler. The Battle of Goose Green between Great Britain and Argentina during the Falklands War was one such battle. Even though the Argentineans ...

The First World War was quite a turning point in the history of humanity, not only because of the great number of countries involved into it, but also because of the use of new powerful weapons causing mass deaths and leading to awful casualty rates. The USA President Woodrow Wilson tried his best not to enter this devastating war. However, in 1917 he had to change his policy.

The decision of Woodrow Wilson to enter the war with Germany seems quite controversial after one comes to think about the major slogan of his election campaign in 1916 “He kept us ...

Conise Management

a)Caledonia should focus on cash flows instead of accounting profits while making their capital-budgeting decisions because cash flows represents the actual cash that Caledonia receives from the project and can reinvest it in other viable ventures. The timing of the actual costs and benefits can only be analyzed using the cash flows and not the accounting profits. Accounting profit includes some non-cash expenses such as depreciation which do not represent actual cash outflows at that point in time. In making capital budgeting decisions, it is only the incremental cash flows and not the accounting profit that are of ...

And Their Application to Incremental Cost Analysis

Alan Pizzey (1989) defines cost as, “A measure of the resources used up to achieve a certain aim, and can be expressed as so much per unit of production or as the cost of operation of a section of the business”. Incremental Cost Analysis is a financial methodology used to evaluate the impact of changes in revenues on a particular potential scenario. The various categories of cost discussed in the paper are; Sunk Costs, Relevant costs, irrelevant costs, Fixed Costs/Variable Costs, Cost of goods sold, Opportunity cost.

Sunk Costs: Are costs which the organization had previously incurred in the past and cannot be ...

In harm’s way is a famous (some would say the definitive) account of the sinking of the USS Indianapolis – which has become one of the most notorious incidents involving the US Navy during World War two, because her sinking led to the greatest loss of life that the Us Navy suffered in a single engagement. Stanton tells the background to the ship’s sinking, but the book stands out because of the first-hand accounts of the sailors who survived the initial attack and then waited days to be rescued. As we shall see some of the sailors’ accounts are harrowing ...

Introduction

Telecommunication is the transmission of information over significant distances. Telecommunications involve the use of visual signals or audio messages. Information transmission is a very important factor. Telecommunications aids sharing of knowledge, information and ideas. In wartimes, telecommunications played a very important role in ensuring that there was coordination amongst the warring groups. Telecommunications offer a better way to relay messages to each other. (Reo, 1994)

Old methods of relaying messages

Communication has been existing since time immemorial. Old methods of relaying information that was also used during wartime include:

Using smoke

Using horns

Using messengers

Using drums

Advanced technologies

Communication methods have been improving day by day. ...