Cost Accounting Terminologies Essay Example for Free

Cost Accounting Terminologies Essay Cost accounting, as a tool of management, provides management with detailed records of the costs relating to products, operations or functions. Cost accounting refers to the process of determining and accumulating the cost of some particular product or activity. It also covers classification, analysis and interpretation of costs. The cost so determined and accumulated may be the estimated future costs for planning purposes, or actual (historical) costs for evaluating performance. The Institute of Cost and Management Accountant (ICMA), London, defined cost accounting as â€Å"the process of accounting for cost from the point at which expenditure incurred or committed to the establishment of its ultimate relationship with cost centers and cost units. In its widest usage it embraces the preparation of statistical data, the application of cost control methods and the ascertainment of profitability of activities carried out or planned.† Costing Cost accounting and costing have distinctly different meanings. The Institute of Cost and Management Accountant (ICMA), London, defined costing as the ascertainment of costs. Costing includes the â€Å"techniques† and â€Å"processes† of ascertaining costs. The technique refers to the principles or rules which are applied for ascertaining costs of products manufactured and services rendered. There are mainly two methods of costing job costing and process costing. The process includes the day to day routine of determining costs within the methods of costing adopted by the business enterprise. Within such a process, there could be historical costing, marginal costing, absorption costing and standard costing etc. Objectives of Cost Accounting There is a direct relationship among information needs of management and cost accounting objectives and techniques and tools used for analyses in cost accounting. Cost accounting has the following three important objectives: 1. To determine the product cost.  2. To facilitate planning and control of regular business activities. 3. To supply information for short and long-run decision. Product Costing The objective of determining the cost of products is the prime importance of cost accounting. The total product costs and cost per unit of product are important in making inventory valuation, deciding price of the product and managerial decision making. Planning and Control Another important objective of cost accounting is the creation of useful cost data and information for the purposes of planning and control by management. The different alternative plans are evaluated in terms of respective costs and associated benefits. The management control over business operations aims to establish balance between actual and budgeted performance. A properly designed cost accounting system includes the following steps in the control process: 1. Comparing actual performance with budgets and standard 2. Analyzing the variances between budget and standards and actual by causes, and management responsibility so that corrective actions may take place. 3. Providing managers with data and reports about their individual performances and performances of subordinates. Information for decision Another important objective of cost accounting system is to provide data and special analyses for short and long-run decisions of a non-recurring nature. Appropriate cost information must be accumulated to make a wide variety of short and long run decision. According to Henke and Spoede, the following are the cost information developed in cost accounting: 1. As a basis for valuing manufactured inventories and cost of goods sold in externally presented financial reports. 2. In controlling operations through the evaluation of operating results and the placement of responsibilities for the uses of organizational resources on the shoulders of specifically identifiable persons within the organization. 3. In planning operations through the establishment of cost and budgetary goals. 4. In making day- to- day operating decisions. The cost information is used for two purposes in most organizations: 1) the cost accounting systems provide information to evaluate the performance of an organizational unit or his manager, and 2) also provide the means for estimating the unit cost of products or services that the organization can manufacture or provide to others. a) Performance measurement: This measurement can be done by comparing current costs with those who were expected or standard costs budgeted cost to the degree of knowing which of them have been controlled. Deviations of expected with the current variances can be identified, evaluated and discussed by managers. b) Cost of goods and services: In manufacturing companies, the costs of goods must be measured to determine the cost of items transferred from work in process inventory to finished products. To meet the demands for information, a cost system should measure all the costs of manufacturing process and allocate a portion of those costs to each unit of output. The cost to obtain, maintain and manage the manufacturing plant or building should be added to the cost of material and productive work that requires each unit. The first are called indirect costs and the two last are called direct costs. c) Profit analysis. Information in costs is essential to analyze the profits obtained from a product or product line. The information on the cost of a product enables managers to assess the contribution margin the difference between the price and variable costs and the gross margin the difference between the price and the total cost of the product. d) Product mix. For the companies that offer more than one product or service the cost information is key to handle the mix of products or services offered to customers. With information on cost-profit, a manager can lead the effort in sales and advertising for products that generate greater value. The products that do not create any profit can be removed, have a price reassignation, or tied up with products that have greater utility. e) Price assignation. Regardless of where prices are determined by the forces of market demand, product differentiation and advertising offer to many managers some sort of idea to assign prices to products or services. The costs of products and trends commonly offer signals to managers that prices should be changed. An example could be the change in the cost of a material or critical component which can give a signal to reassess the price of a product or service. f) Cost of service. Many products require the seller to provide additional services to customers. In such cases, the information about the cost of service is so important for managers as the cost of production. The same for companies that offer services only, unless the cost of service is measured, there is no way to know whether providing the service is profitable or not, or whether changes in prices or advertising are needed. Looked from another angle, the uses that the administration of a company can give to the costs can be grouped into 4 categories, specified below Method of costing As state earlier, the term costing refers to the techniques and processes of determining cost of a product manufactured or a service rendered. Different methods are applied in business enterprises to ascertain cost depending upon the nature of the product, production method and specific business conditions. For example, in a textile or steel company, raw material passes through different stages and production is done continuously. In some other industries, production is done at different customers specific orders and each job is different from the other job.

The Human Perception of Pain in Conjunction with the Mind-Body Problem

The Human Perception of Pain in Conjunction with the Mind-Body Problem There is more research surfacing supporting the notion that people can control their pain. What is left under-examined is the notion of whether the pain is mediated by the brain, mind, or both. We all know that pain is an instinctive "sense" if you will, necessary to the survival of all living beings. Without pain, it would go unrecognized and exacerbate to the point of death. Pain is a protective mechanism essential to survival. There are three important claims here: One is that pain is actually a perception. The second, is the brain mediates the suppression of pain through a "gate" in the spinal cord. Lastly, since pain is a perception, the mind may decide the degree to which the "gate" is open, which therefore influences to amount of pain reaching the brain. Recent research provides evidence that certain brain structures mediate the spinal cord gate. Still controversial is whether receptivity to pain is biological in origin and completely dependent on the brain, or whether the min d, the entity in an individual responsible for thought, and feelings, conscious or unconscious, controls the nervous system and in the end manipulates one's perception of pain. Pain is defined by the International Association for the Study of Pain as "an unpleasant sensory and emotional experience associated with actual or potential tissue damage" (1). When pain is described in these terms we can see that pain is a perception, sort of like seeing and hearing. When pain is processed there are a number of brain structures activated, commonly referred to as the "central pain matrix" (2). It may seem irrelevant to delve into pain signal activation in the brain since it is seemi... ...that one's entire perception of pain may be conscious in origin and simply correlate to the mechanisms of the brain, rather than stem from just the brain entirely. References 1)Pain Anatomy http://www.ahs.uwaterloo.ca/~ranney/painanat.html 2)The Human Perception of Pain http://dubinserver.colorado.edu/prj/nva/humanperception.html 3)Brain Pain Pathways http://psych.athabascau.ca/html/Psych289/Biotutorials/19/intro.shtml?sso=true 4)Modification of pain within the spinal cord http://www.manbit.com/obstetspain/obnlp3.htm 5)The Skeptics Dictionary http://skepdic.com/mind.html 6)Mind and Body Interactions http://www.mindbody.org/ 7)Mind-Body-Medicine http://www.mind-body-medicine.com/ 8)Mind and Body Wellness http://membrane.com/ncata/lynn/ 9) Carlson, Neil R., Physiology of Behavior. Needham Heights: A Pearson Education Company, 2001.

Hca/210 Final Project Wk 9

My Proposal for a New Health Care System Alyssa Zacharias HCA/210 March 28, 2010 Joan Lewis {pcut:paragraph_to_cut} A vision for a new health care system would be guaranteed affordable health care to all Americans. Our medical care is good, but the system which the care is financed is extremely inefficient, unfair, and extremely bad. Americans remain uninsured, due to the high cost of health care coverage, not just to the family finances, but to corporate American’s bottom line as well. The United States spends much more share of its economy on health care than any other nation, and yet has failed Americans with the one thing that health insurance is suppose to provide: health security. To avoid recurring dismissal of previous campaigns, this new health care system will provide a successful agenda taken seriously the political constraints, and organizational realities that have hamstrung reform efforts in the past. This system will build on the most popular elements of the present structure; (Medicare and employment-based health insurance) making changes that are self-reinforced, straightforward, and guaranteed health security. ( Hacker, S. Jacob, January 11, 2007) My new health care system will expand coverage, create better incentives for quality and efficiency, and link health insurance to individuals, rather than to their place of employment. It will be guided with personal responsibility for one’s own health as well as being ensured the health and welfare of all our citizens. It would make health insurance mandatory for all U. S. citizens, offering subsidies to help defray the cost of premiums. Our American citizens would benefit the most from this new health care system. A failure to act rising health care costs will jeopardize our public’s health and undercut out international competitiveness. A failure to make affordable health changes available to our Americans who are currently uninsured is morally indefensible. If we use this new health care system, we will be lowering the health care costs and the premium costs of medication. This will suit the needs of all American citizens, with low income or no income that have little or no health coverage at all. (Nichols, Len, July 2007) My new health care system would not have any existing populations with disadvantages, there would be an affordable plan for all American citizens, and this new system would leave no individual uninsured. Each American citizen will have coverage for their medical and medication needs, with affordable premium plans to suit their budgets. This new proposal would solve current challenges such as; 1) access to health care- the first major challenge, people being uninsured are less likely to receive appropriate care, for such things as chronic illnesses, and are more likely to die from diseases. 2) cost- the evidence suggests that the cost of health care in the United States is greater than necessary to allow us to achieve the levels of health and longevity we now enjoy. Insurance companies and the government play such prominent roles in financial health care, patients and doctors have less incentive to consider the extra costs of optional tests or treatments. Taking on this fist challenge we will take in consideration that the uninsured are not all alike; they include people, who have low income, people who are not poor but have costly health conditions, those employed but don’t get offered an group health insurance. Taking on the second challenge, could be the challenge hard to overcome. Increasing access or improving quality, may increase rather than reduce total cost. Patients, doctors, and hospitals must be given incentives for choosing cost-effective approaches. The best way to reduce the financial burdens in our health care system is to deliver cost-effective health care throughout the entire system. Today with the diversity of people, companies can’t create just one benefits program that meets everyone’s needs. The employer decides how much money it will allot per employee for the year for benefits; once that figure is assigned the employees can research and compare the costs of various health insurance options. (Bernanke, S. Ben, June 16, 2008) In conclusion this new health care system would provide affordable and reliable health care for every American. This would also provide the much needed coverage for those who need it the most. Having health coverage for every American would also cut down on the amount of people who wait to see a doctor until they are too ill, who then have to go into the emergency room, which then costs the health care system and government more money. (Bernanke, S. Ben, June 16, 2008) http://www. federalreserve. gov/newsevents/speech/bernanke20080616a. htm (Hacker, S. Jacob, January 11, 2007) http://sharedprosperity. org/bp180. html (Nichols, Len, July 2007) http://www. newamericannet/publications/policy/sustainable_health_system_all_americans

People Led District Disaster Management Essay

Soon after the Orissa Cyclone and thereafter the Gujarat earthquake the Government of India prioritized a national policy on disaster management and advocated a change of direction from a post disaster reactive approach to a proactive stance before the occurrence of disasters, provided a new legal framework and greater harmonization of disaster management efforts. The policy set forth principles (including significant community role and active civil society participation), objectives (including emphasis on prevention, DRR and promoting regional and national cooperation), strategies and provisions for promoting inter-sectoral complementarities. The Disaster Management Act 2005, mandates National, States and district authorities to develop policy, guidelines, plans for proper implementation of Disaster management plans to reduce adverse impact on communities and to facilitate timely and effective response. It stresses upon inclusion of mitigation, preparedness and DRR measures into development. As a result SDMAs in various states initiated development of district disaster management plans. However, some plans were merely a collection of contact phone numbers of important authorities and departments from the district. There were significant gaps in these operational plans mainly due to non availability of a standard framework, lack of expertise and dedicated resources. Lack of community participation and that of relevant stakeholders in the preparation process has resulted in lack of ownership among intended users and beneficiaries. Disasters tend to happen to people at risk. People are at risk because they are vulnerable to hazards. This vulnerability can be best reduced by increasing people’s capacities to deal with underlying social, cultural and physical factors. The key to successful disaster management plan is to ensure involvement of people who are victims and who are at risk or could be potential victims. If this is not practiced it is often unsustainable, costly and ineffective. Most DDMPs in the country lacked participation of affected communities and civil society. A participatory community level disaster management involves a cross section of people in the design and development process of the plan. When local people develop these plans there is more interest, greater ownership and understanding resulting in successfully reducing suffering and losses. The key principles of this approach thus are: * Community themselves are best placed to prioritize threats and take effective risk reducing actions. The best time to reduce the impact of disasters is before the next disasters occur. Hence, preventive actions should be integral part of the effective disaster management plan. * The identification and mapping of hazards along with who and what may be affected is necessary before risk reduction plans can be made. * Progress has to be well publicized to maintain interest and strengthen the culture of disaster reduction. An example of this is found in the recent NDMA/SDMA collaboration with civil society coming together to develop community led DDMP in Madhubani. One of the basic highlights of the Madhubani DDMP process is that though it oriented towards response but it also incorporates reduction and prevention thrust. Incidentally, prevention has been recognized as an important aspect of DDMP by the district and state/SDMA but also in the poverty reduction strategy. As a result of DDMP several agencies/departments in Madhubani have shown willingness to incorporate prevention measures in their regulations, such as the building codes by the town planners that regulate development of settlements. It was encouraging to note high level of commitment from various stakeholders to improving DRR mechanism. Tearfund has been working along with its partners to lobby with governments at all levels for influencing the policies and development of effective people friendly plans. The Madhubani DRR project implemented by its partner organisation EFICOR in 30 villages in Madhubani was instrumental in development of pilot District Disaster Management Plan (DDMP) along with support from SPHERE India. The strength of this pilot has been the process it has embarked upon wherein involvement and participation of all level of stakeholders from community to district/state/national government authorities in development process of this DDMP. In view of intensive involvement of all relevant stakeholders the pilot has received good response and acceptance from the NDMA and SDMA. This is considered as the first ever attempt in developing a DDMP which has come up from the active involvement of first respondent in any natural disasters. As mentioned above the thrust of development of DDMP is that it is being developed involving affected community, hence, the approach has been bottom-up, however at the same time, all relevant stakeholders, be it government departments or the NGOs and other actors have been involved and participated at all stages of development of the plan. This is truly a plan developed by the people and for the people. This plan has also influenced many other civil socieities to take up similar preparations for other districts and states with the support of NDMA.

Mr. Obama and Iran

Mr. Obama and Iran Free Online Research Papers Two editorials by The New York Times discuss the talks that the Obama administration has planned with Iran; â€Å"Mr. Obama and Iran† does not explain thoroughly how Washington should interfere but in the other article â€Å"Talk to Iran. Then What†, it states that there is all this talk about having ’talks’ with Iran but nothing specific has been planned and imposes the question of how much should we compromise to come to an agreement. In the editorial titled â€Å"Mr. Obama and Iran†, the editor writes that former president Bush failed policies in Iran has led them very close to mastering the skills needed to build a nuclear weapon- the skill of mastering nuclear fuel production. The writer backs up his claim by stating that Iran’s scientist have already advanced by putting a satellite in orbit which is a huge sign that their missile program is moving forward. His other claim is that there has to be a mixture of incentives and sanctions to take away Iran’s nuclear ambitions. He goes on to say that the Bush administration never made any attempts to offer the Iranian government any incentives. However, he gives no evidence to support that for sure that Bush never made any attempts. His opinion is that the agenda for talks will be much easier if it included Afghanistan and Iraq. The editor shows very strong evidence that in the past, in 1998 Iran’s fundamentalist Shiite government almost went to war with Afghanistan’s own fundamentalist Taliban. The U.S. interfered and forced the Taliban to back out, with the help from Tehran helping Washington make a new Afghanistan government. However this plan didn’t end up working because there were accusations that the Iranians were supporting the Taliban’s to keep the Americans off their radar. The Osama administration needs to remind Iran again that it is in their best interest that Iraq is defeated and for the Afghanistan’s to be more stabilized. In the other article published by the New York Times as well, the writer comments that Obama’s presidential campaign came up with specific tactics to prevent Iran from its nuclear weapon plans but failed to answer the important questions such as: â€Å"What should the United States demand when it finally talks with Iran? And when Iran rejects our opening position, how much should we compromise to come to a deal?†(Rademaker). He supports this by putting out the fact that in the past Iran has rejected the United Nations, insisting that Iran suspend their nuclear plans to enrich uranium. The Obama administration will probably propose this negotiation again and Iran will likely reject it again. â€Å"So what then?† is the question (Rademaker). He explains that Congress will ask themselves: Are we demanding too much? He argues that time is definitely on Iran’s side because they had 164 centrifuges in 2006 and now they have about 5,000. So the question is â€Å"How can we cut the best deal now, even if it allows Iran to continue enriching?†. He says that critics will propose two fallbacks if Iran doesn’t agree the first time: allowing enrichment but at the same time using international safeguards that can spot the development of nuclear weapons, or proposing that uranium be only used for multinational programs operated by various countries. The problem with this proposal is that the countries near that regions around Iran will demand the same treatment, but that would not be a good thing especially if countries like Syria that is not friendly to Americans, will enrich uranium as much as they can. Stephen Rademaker concludes his editorial by saying that if Obama finds a way to obtain a negotiation with Iran, that may be his one of his greatest achievements during his presidency . In conclusion I feel that the second article by Stephen Rademaker is much more convincing because he gives more specific evidence to back up his opinion. For instance, he writes that Washington as well as the Obama campaign have made statements that there will be talks to with Iran to prevent them from pursuing their nuclear interests but the question of what kind of talks has not been answered. While reading the first article, I was expecting more information, I felt as if I only read a part of the article. Rademaker’s editorial asks the question of what kind of demands will the United States impose if it rejects once again, the limitation or uranium enrichment. Another example where he uses specific examples is if the United Nations and the United States allow Iran to enrich uranium, in any way, it will be impossible to deny surrounding countries the same treatment. The weakness of this editorial, however, asks too many questions which leaves the reader confused as to if it is supposed to be for the reader or it is the editors own questions. The strengths are the explanation with statements that can be verified, because they actually happened in the past. That is the editors main argument- that Washington should come up with other proposals that have not been rejected in the past to ensure a compromise with Iran. In the first article, the editor writes, â€Å"We don’t know if there is any mixture of incentives or sanctions that can wean Iran of its nuclear ambitions†¦But we are certain that the Bush Administration never tried to find it†(Mr. Obama and Iran). While that may be true, it is something that Americans already know. It is still clear that there is still disagreements with the United States and Iran so there is no need of a reminder. Instead the editor should have explained how the Obama Administration can learn from Bush Administration and propose what kind of talks should occur. The article is concluded with, â€Å"Mr. Obama can make a compelling argument that it is in Iran’s strategic interest to join negotiations intended to guarantee Iraq’s long-term stability and sovereignty†(Mr. Obama and Iran). However there isn’t an elaboration on that. Although both articles are well written the one that convinces me the most is â€Å"Talk to Iran. Then What?† because it is more persuasive. The author does his research to prove his point. The other article I feel, just states facts things the public already knows. His opinion I believe is something that has been already heard on the news and on the radio. Stephen Rademaker gives a different point of view to his audience. Regardless if the reader disagrees with his opinion, his article is more likely to be chosen as more credible because the author shows he knows what he is talking about. â€Å"Mr. Obama and Iran†. The New York Times. 9 Feb. 2009: A22. Rademaker, Stephen. â€Å"Talk to Iran. Then What?†. The New York Times. 9 Feb. 2009: A21. Research Papers on "Mr. Obama and Iran"American Central Banking and OilMy Writing ExperienceThe Equal Rights AmendmentCash or Card?Global Distributive Justice is UtopianGene One the Transition from Private to PublicProject Management 101Booker T. Washington, W.E.B. Du Bois, Ida B. Wells-BarnettDistance Learning Survival GuideCo-Educational vs. Single Sex Schools

August 2007 Most Popular Posts

August 2007 Most Popular Posts August 2007 Most Popular Posts August 2007 Most Popular Posts By Sharon Write First, Edit Later: Well, it is important to write correctly. It makes your communication clearer, and your reputation brighter. But it’s usually better to say what you mean poorly than to say nothing. Passive vs. Active Voice: English teachers like myself love to warn new writers against the evils of passive voice. Here at Daily Writing Tips, Michael has written about passive writing, and I recently wrote about dummy subjects, but it looks like there’s still some confusion about passive voice and its use. â€Å"Could Care Less† versus â€Å"Couldn’t Care Less†: The Oxford dictionary already recognizes â€Å"could care less† as an American colloquialism. Many people, however, regard it as incorrect since it makes no logical sense (if you â€Å"could care less† it means that you care at least a bit). What do you think about it? Have your say in our Poll! Five Spelling Rules for â€Å"Silent Final E†: In an earlier stage of the language, many of these final e’s were pronounced. Now, however, unless the word is a foreign borrowing, the final e is silent. Needed: New Singular Possessive Adjective Combining â€Å"his† and â€Å"her†: I told him that the answer was c) his, but, to my astonishment, the answer key gave b) his or her as the correct answer. That’s when I discovered that I was behind the times when it came to the concept of oppressive gendered language. Punctuation Errors: Quotation Marks for Emphasis: Last month, Daniel covered some of the basic rules for using quotation marks. I’d like to point out one of the most common misuses of this piece of punctuation: the quotation mark for emphasis. Misspelled Numbers, Months, and Days: Yes, these are elementary spelling words, but cruise the web and you will see them misspelled all over the place. The Truth About â€Å"It’s†: As well as I know the rule, as many times as I have corrected the error in the manuscripts of others, the occasional it’s for its creeps into my own writing and must be caught in the final revision. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the General category, check our popular posts, or choose a related post below:Regarding Re:Email EtiquetteArtist vs. Artisan

To What Extent Can Violent Video Games Be Said to Explain Violent Essay

To What Extent Can Violent Video Games Be Said to Explain Violent Behaviour in Teenagers - Essay Example Many parents and educators allege that this obsession with violent video games that grips so many teenagers is a direct cause of violent behaviour in teenagers. A closer examination of the facts about video games and teenage behaviour reveals, however, that this is a very dubious claim, since it is very difficult to prove any causal link between video game playing and violent behaviour in teenagers. The main argument in favour of a link between violent video games and teenage behaviour is that, like violent films on television and in the cinema, they can affect the development of a young person’s personality in an adverse way. Several well respected American medical associations such as the American Psychological Association, the American Academy of Pediatrics, the American Academy of Child and Adolescent Psychiatry and the American Medical Association issued a joint statement in year 2000 saying that there is a causal connection between media violence and aggressive behaviour , but that it is a complex effect (Gentile et al., 2004, p. 19). In the United Kingdom there is a strict classification system in place that is intended to prevent the most violent games from getting into the hands of people under eighteen years of age. This system is not always effective, since the majority of parents do not monitor the titles that their teenage children buy, and they often have very little knowledge about what these games actually contain. Clearly the authorities in most countries are convinced that violent video games can cause harm, and they take steps to minimize this harm. These measures do not, however, amount to real hard evidence that links video games with violent behaviour. Media in general contain vast amounts of material ranging from innocuous cartoons and slapstick violence to sick and criminal content that clearly should not be available to teenagers. Young people are exposed to multiple sources of images and texts on the television, in print material and on the internet every day, and so it is difficult to prove that video games are the root cause of any violent behaviour. Any amount of other sources could influence teenagers, and so it seems unreasonable to pinpoint video games as a cause of violent behaviour. They are perhaps an easy target because they are well regulated, and their popularity can be measured through sales and feedback to the providers. They may also arouse deep suspicion in technophobe adults who cannot keep up with the skills of young people in their care. For all of these reasons, it seems likely that the perceived effect of playing video games is exaggerated, and that their relative novelty in the entertainment landscape has attracted undue attention to the particular contribution that they make. It can be argued that evidence for the influence of video games is to be found in statements of young people themselves. There are many cases where teenagers enter the criminal justice system because they are acc used of some act of violence. In such a situation they can state that they were influenced by a certain game title. Examples such as the â€Å"Grand Theft Auto† series are often mentioned in this connection, because this kind of first person action game involves street crime and aggression towards fictional characters. Violent youth offenders are often