Investigating Financial Control Essay

Task one The three different types of costs are fixed cost, variable cost and total cost. For all of the diverse types of costs there are also dissimilar calculations to work out each type of revenue. Fixed cost does not change no matter how much they produce, even if the business produces 1 or 1,000,000,000 it will always stay the same. Examples of fixed costs are rent, salaries, rates and loan payments. Variable cost change with the level of production. In order to work out the total variable cost you have to times together the quantity and the variable cost. Also, to determine the total cost you have to add the fixed cost and the variable cost. The meaning of Start up cost is the money you need to start up the business. Running cost always varies because of the level of stock changes and you have to pay for workers. In the case of Kiren and Zaiba, salaries are used as a fixed cost because they don’t change with the level of output. Heating and lighting are used as a variable cost because the variable cost change with the level of production. The sum: Fixed cost + variable cost = total cost which is 6,000 in the scenario. The definitions for the following words are: Profit What is left when all costs incurred in making and selling a product are deducted from the revenue gained from that sale. It acts as the reward to the entrepreneur, usually the owner of the business, who has provided the capital. It is usually the net profit after tax which represents the surplus for the owners of the business and is paid as a dividend to shareholders. Profit maximization is seen as one of the major objectives of a business, although it is more likely to be an objective for the investors in a business, than for its managers or employees. It might be for those groups that profit acts as a constraint, while higher sales orhigher wages and salaries are more important objectives Net profit: This is the amount of sales revenue that a business earns less all the costs involved in achieving that revenue, including both direct costs and expenses. The net profit figure represents the figure for profit before taxation or a dividend are further deducted, and shows how successful a business has been in generating profits from its trading activities. Gross profit The figure obtained on the profit and loss account when the cost of goods sold is deducted from the sales revenue of a business, but it does not take into account any of the expenses of running a business such as wages, distribution costs or administration costs. Fixed cost Variable cost Total cost Rent  £800 Heating and lighting  £200 Salaries  £1400 Advertising  £50 Insurance  £210 Administration  £50 Rates  £150 400 CD’s  £2800 Loan repayments  £290 Telephone  £50  £2850  £3150  £6000 Task 2 Kiran & Zaiba analysis: In task two I used excel to work out the break even point, at diverse costs. The fixed costs were the same because I only have done break even for one month. The quantity is going up in one hundreds. I calculated the variable cost by multiplying the quantity by 6 which came out to be going up in six hundreds. I calculated the total cost by adding the fixed cost by the variable cost; in this case it was increasing by six hundred. To calculate the sales revenue, I had to multiple the quantities by 12, which was increasing by 1200. To calculate profit or loss, I subtract sales revenue from total cost. According to the information on my table Kiran & zaiba have to sell 1000 CD’s to break even. Break even is when the cost is 6000 and the quantity is 6. In the following table I have changed the fixed cost to 6950 because the following values increased: the rate increased to  £300 also, the telephone increased to  £100, advertising to  £125 and the lighting and heating increased to  £425. Using the contributing method I will calculate the following data to achieve how much CD’s will be needed to break even. In order to do this I will have to use the following equation 6950 divided by 6. The sum equals 1158. So they will have to sell 1158 to break even. This means that they will have to increase sales. Advantages of break even analysis Disadvantages of break even analysis Break even can be used to predict profit It price suddenly changed it wouldn’t take it in Break even can be used to determine financial needs For example, If petrol prices go up the break even will not show the increase. Keep track of profits and losses. It is a forecast which means that the data is predicted. Gives you ideas for selling prices (if you made a lot of money at that period of time). It helps to calculate profits Helps to make decisions on prices I think that break even is very useful because: It assists you to figure out your profit Helps you by giving you assumptions of prices It is extremely significant in that if you are taking into consideration to applying for a loan. Gives you a clear impression of prices TASK 3 Analysis for cash flow forecast I will now construct the cash flow forecast I have now prepared an annual cash flow forecast using monthly data I have also included the loan in January. The table looks like this for a regular cash flow forecast: image00.png The sales become irregular due to an immense amplify in downloading and sharing music. The irregular cash flow forecast should look like this: image01.png Cash flow forecast is extremely significant and has many uses. For example, it helps the bank manager to keep up to date; it helps managers to plan ahead and it also determines if there is a problem with the cash flow by resolving the difficulty. Regular cash flow shows: That there is not a problem with the cash flow because the opening bank balance is always increasing, so the profit is rising. The main objective for a cash flow forecast is to see whether there is a profit or loss. Currently, I have identified that with the regular cash flow there is not a problem because all the numbers are increasing, meaning that a profit has been achieved. Irregular cash flow forecast shows that: The opening bank balance starts with zero; it then rises immensely in February to 11300. Then it starts to decrease steeply all the way to December, leaving the opening bank balance drawn to a close with -37470. This is bad for the business because now they are not making a profit The total cash inflows, starts of with 18000 in January. Then it starts to reduce in each and every month, until it comes to December where it increases to 2700 from November. This is consequently leading them to a loss. The total cash outflows contrast from low to high in that, in January it is 6700 and then increases enormously to 9500 in December. The Implication of the problem is that there is an increase in people who tend to download and share music. This will inevitably affect their sales. This will also consequently make Kiran and Zaiba fall to lose a profit. Because of this problem Kiran and Zaiba are making a loss of  £43,920. The implication to the problem is that, In order to reject the lost, I recommend that The other way around this is to increase the number of quantities, in order to sell more and increase profit. Or, lower maintenance costs and launching a download website so you can attract costumers worldwide. Task 4 The documents which Kiran and Zaiba will need to sequence sales and purchasing from order to receipt of goods are: Issues by the purchaserIssued by the seller Delivery note- accompanies the goods. Is signed by purchaser as proof of delivery. Sales invoice- gives full details of goods, prices, discounts, VAT Credit note- issued if goods are returned or to adjust any over- charges on the invoice. Statement of account- summarises all transactions and states balance owning. Remittance advice – summarises the account for return with cheque payment Cash receipt- issued to confirm cash payment has been received Purchase order- lists items required and price for each. Goods received note- lists items received. Purchaser tells seller if any shortages or damage Cheque or electronic transfer- to pay balance on statement I am now going to describe the manual and electronic ways of recording financial transaction that Kiran and Zaiba could use: Predominantly, most Kiran and Zaiba’s transactions are mostly recorded electronically because they are developed either by an electronic cash register or by computer. The advantage of recording transaction for Kiran and Zaiba indicate that any linked documents are printed mechanically. Kiran and Zaiba may want to take the alternative route by considering keeping manual records which are then kept by businesses that would not find it valuable to buy a cash register or use a computer system. Even people who receive payments in a customer’s home- such as service engineers- are now more likely to record the transaction on a laptop than carry a receipt book with them. Kiran and Zaiba want and need to prevent fraud because they are a minute business. To terminate these frauds they will have to have: A thoughtful staff selection which are trustworthy to procedure which includes character references. A â€Å"whistle- blowing† scheme where workers are compensated for reporting fraud. The system should guarantee that information is treated confidentially. An unambiguous policy on dealing with fraud. Scam is usually considered to be â€Å"gross misconduct† (which means disgusting bad behaviour) for which workers can be fired instantaneously as part of the disciplinary procedure. Task 5 The strengths of a cash flow forecast are that: It helps the bank manger to keep up to date It records how much money you have It gives you ideas to plan ahead Demonstrates how much money you have at the present time The forecasts of sales and cash flow, and hence crucial abundance of profit, will be vital on which the prospective bankers will assess the upcoming feasibility of the business. It follows that these forecasts will come under crucial inspection and significant judgement. The importance of cash inflows is so you distinguish how much value of money is going towards the inside of a businesses bank account at a particular time. An example for this could be: the income Kiran and Zaiba make for selling CD’s. The strengths of break even are: It helps you see where you have an increase or decrease in your profit. Keeps you informed Break even engrosses discovering what would occur if there were changes to cost of revenues. The types of questions the boss would ask are: Is it possible for Kiran and Zaiba to increase sales by 5% and still make a profit even if sales fall? If by reducing sales by 10% will this effect Kiran and Zaiba? Say if Kiran and Zaiba shift of to an inexpensive property, how would this affect our profits? There is many different ways in which, to record this information. For instance, Manual recording principally used by businesses that, tend not sense that it is advisable to buy a cash register or computer. (For example, If Kiran and Zaiba don’t sell as much CD’s then, they may find it simpler to record these manually). Also, there is an alternative route which is, to record by electronically, which means that associated documents are printed mechanically. This could be beneficial if Kiran and Zaiba are selling lots of CD’s. Cash flow indicates the amount of money received and spent over time. This is significant in that, you will then be aware of how much income is in the bank. If Kiran and Zaiba have an enormous demand they can amplify there sales because there are not adequate CD’s. They could charge more which is better for the business because they are making more profit. But if there is too much CD’s then they could reduce prices to sell more, thus allowing them to make profits. Just to add, the main objective for any business is to make a profit. So, Kiran and Zaiba will want to do so. To do this, Kiran and Zaiba may want to take this into consideration that they may want to reduce their sales in order to sell more and to attract more costumers.

Negative effect of video games on children Essay

The Negtive Effects of Video Gaming on Children Children don’t have to buy an expensive gaming system to play video games anymore, than can simply log onto the internet through their home computer or their handheld devices and they have an array of videogames to choose from. Every time a child pops a role playing videogame into their gaming console or logs onto the internet to play so called interactive video games, they enter a virtual world where there are no real consequences for their actions. While playing violent video games children can choose to play the violent roles of either car thieves or killers. The more time a child spends playing video games the less time they spend engaged in normal social activities with their friends. When a child is allowed to spend hours a day playing video games, especially violent role playing games, they can cause them to become violent, socially isolated, and depressed. First person role playing games allow children to identify with their character (Harding). The more time children spend as killing machines in the false reality of the video gaming world, the more desensitized they become to death and killing in the real world. Studies have shown the more time children spend playing violent video games, the more likely they are to respond to real world situations with aggression and violence (Gordon). A 2004 study published in the Journal of Adolescence found children, particularly teens, who played violent video games are more likely to become aggressive, confrontational, and see a decline in their academic performance (Harding). Allowing children to play violent video games is not worth the risk they pose! Children are exposed to enough violence through television without the help of violent games offered to them over the internet and through popular video gaming systems. Video games do not only expose children to violence they allow them to engage in it through the violent roles they allow them to play. Many of the roles children play over the internet or through their game consoles simulate real world situations where they can steal and murder with no consequences. Parents should not need to read the results of a study for them to realize that allowing their child to play violent roles in video games, where they kill and steal, will encourage violent behavior from them in the real world. During September 2009 in Ohio a sixteen year old boy named Daniel Petric was forbidden by his father from buying the new version of the violent video game Halo that he was obsessed with. After being forbidden from buying the new version of the violent game Daniel snuck out of his house and bought it anyway. When Daniel’s father discovered he had disobeyed him, and bought the game, he took it away from him and locked it in his lockbox where he kept his gun. Later that same night, sixteen year old Daniel unlocked his father’s lockbox to retrieve his game and found his father’s gun. After finding the gun Daniel went into his parent’s bedroom and shot both his father and mother in the killing them (Gordon). No one can say with absolute certainty that the video game Halo caused the boy to shoot his parents. One thing is obvious, if the boy’s account of events are to be believed, the game played a huge factor in his descion to murder his parents that evening. Violent behavior unfortunately is not the only negative effect from children playing video games to often. A recent study by Douglas A Gentile, an associate professor of psychology at Iowa State University found that children who spend several hours a day playing video games are at risk to become addicted to them. Once a child becomes addicted to their video game, their addiction can cause them to become depressed, anxious, and have social problems including social isolation (Gilmore). If a child is spending several hours a day gaming they can very easily become depressed. When a child spends most of their day playing video games they do not engage in normal healthy physical activity with their friends. It makes sense that the more time a child spends isolated playing video games the more likely they are to become depressed. Children need to spend time interacting with their friends in order to develop normal social skills. When children isolate themselves playing videogames alone all day, they begin to lose their friends and social skills. Studies show that the depression caused from children pathologically playing video games can be easily lifted when they simply stop playing them (Frontelera). Douglas Gentile said, â€Å"We found in children who started playing pathologically anxiety and depression got worse. And, when they stopped gaming the depression lifted† (qtd. in Gilmore). The idea that allowing a child to play his or her favorite video game for a couple hours a day can lead them to social isolation may sound farfetched, unfortunately it is not. The more time a child spends playing video games the less desire they have for one on one human contact. Although, children have the ability to interact with other players including their friends through the internet, their friends become part of the game itself and there is no real contact. Children need to spend time in social environments with their peers in order to learn and maintain the social skills they need to navigate through life. When a child loses his or her social skills they quickly become isolated and depressed. Their isolation and depression can lead them to identify themselves more with the character they are playing in their videogame than their own real life. First person role playing games allow children to identify with their character. Studies have shown the more time teenagers spend playing violent videogames at home the more likely they are to respond to real world situations with aggression and violence. A child’s imagination is amazing and sometimes limitless, unfortunately it can become dangerous when they begin to imagine themselves stealing cars and murdering people while playing first person role playing Videogames allow children to become kings and queens, or car thieves and murderers. Children can become so entranced by the different roles they play in the virtual worlds created for them through videogames that the line between the real world and the virtual one depicted in the video games they are playing becomes blurred. . Violent video games rewarded children for things like stealing cars and killing people.

My Personal Literacy Narrative Essays

My Personal Literacy Narrative Essays My Personal Literacy Narrative Paper My Personal Literacy Narrative Paper Personal Essay on Literacy It feels just like yesterday when literacy was first demonstrated to me. At the age of 9, I began attempting to write my poems and short stories without and guidance of instruction. They were kept private until my 2nd-grade teacher began assigning different writing assignments to the class. I felt as if I had a greater advantage than the rest of my class since I kept a journal full of random pieces of writing. Each piece of writing I turned in was cover with red markings. Apparently l, I did not obtain the writing skills I thought I did. It is a good thing I wasnt the only one. Instead of singling me out before the entire class, my teacher felt that it was important to introduce the class to literacy formally. My teacher, Mrs. Littlejohn, took the time out of each day to go over writing skills. Originally, I was taught to write what I know and am most certain about. The tip was very useful at first. It became easier to write about my experiences and the stories my friends and family had told me. After a while, I wandered away from that advice and created my writing path. No longer do I follow that rule. Now when I wrote, I like to make it about what I feel is interesting to myself or whoever reads it such as science fictions stories for nerds or famous speech response papers for teachers. Ill take the time to do research of I have to; sometimes it benefits both the reader and myself. I wrote my first short book at the age of 10, and it was terrible. I disliked everything about it. The band, the plot, the characters, and the amount of time I was given to finish made it all a huge catastrophe. The story I put together was simple minded and hard to understand. It was supposed to be about my friends, and I am becoming locally famous dancers. It ended up being more of a biography describing the lives of my friends and I. It was my first timed writing activity, and I was not ready.

Top Training Companies for New Truckers

Top Training Companies for New Truckers Listen up, new and inexperienced drivers! If you can’t wait to get behind the wheel of a truck and start earning a paycheck as a professional driver, then keep reading! RJ Trucker Blog has some no-nonsense advice for getting yourself road-ready and employed in no time- including some top picks for company-sponsored training! Are you worried that your lack of training or experience will make it impossible for you to get started? Don’t be! There are plenty of companies that have sponsored training programs- you can get trained and hired all at once! This includes either company-subsidized training or training hosted by the company itself, often in return for work for a specified length of time or some repayment arrangement, or both.Here’s a list of some top trucking companies that offer sponsored CDL training:U.S. Xpress, Inc.Schneider NationalKLLM Transportation ServicesBaylor TruckingCrete Carrier Corp.Werner EnterprisesJB HuntTMC TransportationPrime IncMaverick TransportationGordon Trucking, Inc.Con-way TruckloadCovenant TransportShaffer TruckingAll of the companies on this list are well known and have solid reputations, but don’t forget- you should still do your research when choosing the one that’s best for you. Company-sponsored training can be fast, easy, and free you from upfront costs, but be certain that the specific terms in the agreement are acceptable before signing on. Make sure you choose a good company that offers thorough training and reasonable work hours at an acceptable wage!

Interpersonal communication Case Study Example | Topics and Well Written Essays - 1000 words

Interpersonal communication - Case Study Example I experienced great diversity and unique cultural backgrounds at my workplace. Everyone at workplace seemed to have a different view in nearly all activities that we engaged in. I realized that as I continued to interact with workmates, each one of them seemed to present their individual backgrounds, try to portray their past experiences and values. The experience of diversity provoked my interest and I began to develop new friends that would match the new environment (Corbin & White, 2008). I preferred to work and share closely with individuals of diverse groups and backgrounds with the central aim of exploring personal connection. It is imperative to that diversity experience and success in building new friends with different cultural beliefs and values influenced me to like the job. The feeling of heterogeneous culture within the workplace and ability to accept my co-workers beliefs and values enabled me to interact closely and learn more about other cultures. In addition, knowledge of multiculturalism aspects within a diverse population enabled me to develop intimate relationships with my co-workers, supervisors, and other friends. We would share about our different cultural practices including learning each other’s language with the intimate workmates (Corbin & White, 2008). Consequently, the feeling of knowing and speaking a foreign language become interesting and I felt encouraged to explore my workmates cultural backgrounds. As I became more intimate and personally connected to learning other cultures, I developed preference for working in the company. It is imperative that the knowledge of multiculturalism remained essential in fostering a healthy work practice and relationship. I developed the ability to accept and recognize my co-workers, supervisors, and other friends by valuing them as equally important, an experience that propelled my career success. In

Property Law (Equity & Trusts) Max word limit 2250 Case Study

Property Law (Equity & Trusts) Max word limit 2250 - Case Study Example There is no such statutory provision for cohabitants; they are subject to the equitable rules of resulting and/or constructive trusts and/or promissory estoppel and may have no redress despite having made substantial contributions to the maintenance of the property and/or indirect contributions to the payment of the mortgage. This is aggravated by the lack of certainty in the law with regard to measuring acquisition and quantification of beneficial interests. The 'justice' received turns on the initial pleading of the claimant and the manner in which the household budget was allocated4. Typically a claimant who seeks an estoppel will have a broader range of remedies available from the court than someone who seeks to establish a constructive trust based on indirect contributions. This has led to inconsistency in judgments, which undermines the certainty of the law, with a subsequent increase in litigation and costs5. The Law Commission speculated on introducing a 'statutory trust' where registered beneficiaries would earn a pro rata proprietary interest rather than a personal right to be repaid the value of their relevant contribution(s), subject to evidence of gifts or loans6. Unfortunately it was felt that the scheme would not reduce the evidential burden and that it did not offer enough remedies. In particular the scheme did not fully address the lost economic opportunities following the breakdown of a relationship where the contributions were non-direct7. Other commonwealth jurisdictions have different approaches but the same issues of uncertainty and obscurity.8 It is submitted that the focus on the 'family' home is too narrow given the statistics on cohabitation and the many diverse forms which have evolved. A broader approach to shared rights in accommodation is called for. As demonstrated in the Law Commission's review of other jurisdictions waiting for the courts to develop greater flexibility will necessarily be slow, strapped as they are by an Executive still focusing on the 'family' - hence displaying a lack of understanding of the social issues - on one hand and judicial precedent on the other. Advisors also will be limited by decided cases and the increasing difficulty of obtaining legal aid to bring novel situations before the court. Further, the law is based on outmoded ideas of shared accommodation and the idea of common intention. The emphasis on status - with marriage being the ideal - seems to be holding back the development of the law in this area. It is submitted that the 'evil' to be overcome is not one's marital status, or whether or not children are brought up in a marriage, but inadequate financial provision for persons who have a legitimate expectation to be provided for. This should be the norm regardless of 'status'. One absurdity of the 'status' approach is the impact on the descendants of married versus non-married couples, where 'legitimate' children can expect to be provided for whilst 'illegitimate' children are reliant on a judge's largesse. The Civil Partnership Act 2004 ss65-68 are a step in the right direction, but only covers couples of the same gender who have undergone a prescribed ceremony. Whilst non-financial contributions are recognised, this is limited by the requirement of a contribution of a 'substantial

Indirect Theories and Moral Equality Theories on Kindness to Non-Human Essay

Indirect Theories and Moral Equality Theories on Kindness to Non-Human Animals - Essay Example This means that despite them being non-human animals that â€Å"are not rational, self-conscious beings capable of grasping the moral law† ( 63 ), they still have intrinsic moral worth. According to Kant, animals are not included in the human territory because only humans are capable of creating and understanding moral laws. This also means that while a human, being an â€Å"end in itself† ( 64 ) are not indebted to animals, kindness towards animals â€Å"will help develop good character in us and help us treat our fellow human beings with greater consideration† ( 63 ). Aside from making humans less likely to be cruel to other humans, kindness to animals makes human beings fulfill the indirect duties to humanity, which is a categorical imperative. Kant provides good examples of this claim. A dog, for example, may not have rights like humans do, but letting the dog suffer is a reflection of lack of humanity. Kind treatment of the dog, especially one that has been faithful over time, in not necessarily a human being’s duty towards the animal, but a human being’s duty of â€Å"humanity which it is his duty to show towards mankind† ( 64 ). Cruelty to animals, according to Kant, reflects in humans an immoral tendency that might be inflicted to fellow humans. However, despite the need to be kind to animals, they should not be treated as ends in themselves. Human beings â€Å"serve(s) the will as the objective ground for its self-determination† ( 63 ), yet this is not the same with non-human animals. Animals are a means to an end, and that end is man. This means that while man does not have the right to use other people in ways to serve another human’s end, the case is not the same with animals. Still, one must consider that kindness towards animals is an imperative that will ultimately serve the end purpose that is humanity. Human beings require respect because they are sovereign and have freedom. Such autonomy is important and a creature can only have it by having free will. Since animals do not have the capacity for reason and are not guided by consciousness, they do not really have free will, and are thus not autonomous. Kant has a strong point when he says that one can ask, â€Å"Why do animals exist?† ( 64 ). However, the question â€Å"Why does man exist?† is meaningless ( 64 ). It seems the argument is that animals exist for a specific purpose, and one of those purposes is to serve the goals of man. Kant’s arguments make strong points. However, some amendments may be done according to some principles of consideration. While animals do not have the capacity for reason, are not guided by consciousness, do not really have free will, and are not autonomous, humans should act with â€Å"consideration in satisfying (their) needs and interests† ( 76 ). Singer quotes Bentham: â€Å"The day may come when the rest of the animal creation may acquire those rights wh ich never could have been withholden from them but by the hand of tyranny† ( 76 ). Does this mean that consideration of one’s needs and interests apply to animals as well, and that giving animals rights is utterly necessary to reach this goal? To answer this requires not only a slight reconstruction of Kant’s views, but of Singer’s as well. What is required here is to determine if animals have morally significant needs and interests. The emphasis on moral significance means that withholding such could inflict unnecessary harm and suffering to non-human animals. Do animals have welfare or well-being that could benefit or be harmed by the non-existence of animal rights? It could be possible. However, saying this about a creature lacking logic, consciousness, and free will is tantamount to saying the same regarding a, say, car. Do animals have needs and interes