Traditional Versus Activity Based Costing-Free-Samples for Students

Question: Contrast Traditional Costing and Activity Based Costing (ABC). Do you feel ABC is an improvement over customary costing? Answer: Presentation In business there is event of different expenses in assembling of merchandise or rendering of administrations. The assembling associations need to convey the expense happened for crude material,, work, and overhead to the merchandise delivered so as to decide the general expense of the produced products. In costing there are different techniques for allotting the all the expenses to the products and ventures. Some of significant cost distribution techniques are conventional costing strategy and movement based costing strategy. In this article, there will conversation on both of these costing strategies and distinction between them will likewise be clarified. The customary costing strategy and movement based costing technique both are utilized to allot the roundabout expense brought about during the assembling of products or offering the types of assistance. The principle job of both these costing techniques is to ascertain the overhead expenses and designate them to the items utilizi ng the specific cost drivers. Examination of Traditional costing strategy and action based costing technique The customary costing strategy for cost portion is generally simple and as often as possible utilized technique for apportioning the processing plant overhead to the items. The fundamental motivation behind why the conventional costing technique is often utilized is a direct result of its effortlessness and simple to apply qualities. Under this costing technique, all the overhead cost (industrial facility overhead) are assigned to the various items utilizing the single cost driver, for example, direct work hour strategy or machine hour strategy or direct material utilized strategy (Cooper and Kaplan,1991). There are numerous potential issues related under this technique like utilization of single recuperation cost driver to dispense all the overhead regardless of overhead devoured under individual item or not. This difficult offer ascent to basic cost gives that can hurt the companys execution. Under conventional costing technique, the cost distribution happens in two phases. In firs t stage, all the overheads are determined by detailing all the overhead expense to the cost places. In second stage, all the overheads cost are appropriated structure the cost community to the various items in the extent of cost driver utilized by every one of the item in the particular time frame (Hayden, 2017). The conventional costing technique for cost portion doesn't help in powerful working administration execution framework that will assist supervisors with obtaining the important data about the items to help in progress of business execution. The clients of the conventional costing strategy make ridiculous suspicion that volume metric is the most widely recognized hidden driver of the assembling overhead expense. Under the customary costing allots a wide range of overheads utilizing the single recuperation rate among the items made by the organization. The customary costing strategy for cost allotment has flopped after organization has begun utilizing the machines and other various apparatuses for assembling of items. The advanced assembling process includes numerous exercises to create any item and it is totally off-base to allot the overhead costs utilizing the designation base that has no connection with the exercises utilized in the assembling of items. To take care of every one o f these issues, the new costing strategy has been presented known as action based costing framework (Bromwich and Bhimani, 2005). The movement based costing technique is remarkable and most precise strategy for cost allotment as this strategy totally dependent on the genuine utilization premise. According to this strategy the total assembling process has been partitioned into numerous stages and each stage devours a few expenses. The specific exercises can contrast contingent on the items fabricated by the organization. Each movement utilized in the assembling procedure basically dependent on some cost driver, for example, if item is handled through certain machine than the cost driver will be machine hours. The movement based costing framework distinguishes the exercises that are performed to make the item fit for the utilization and afterward assign overhead cost connected with specific action to the items utilizing the recuperation rate that characterize cost driver in particular action. For instance, the overhead expense related with the utilization of machines will be allotted among the items utilizing the machine hour rate recuperation rate not by the work hour recuperation rate (Cooper and Kaplan, 1991). The significant favorable position of this strategy is that it perceives the connection between the costs, exercises and items, and by utilizing this relationship it distribute the all the overhead expenses to the items utilizing the most genuine allotment technique which helps he director in improving the business execution and kill any non-esteem included exercises (Hayden, 2017). The underneath table plainly shows the distinction between the customary costing technique and action based costing strategy: Premise of Difference Conventional Costing Method Action based costing strategy Cost Pool Conventional costing strategy utilized one cost driver or most extreme two Movement based costing technique utilized various cost driver that itself speaks to the exercises embraced in the creation Rate applied This costing technique utilizes volume based cost driver This costing technique utilizes action based costing driver which is non-money related in nature Advantages Basic, reasonable and simple to apply Give exact item costing and help in execution assessment It is imperative to comprehend the contrast between the conventional costing strategy and action based costing technique utilizing the numerical model. Model: Following the expense caused of the assembling of the two items P and Q by ABC Company. Direct Material expense $ 15,000.00 Direct Labor cost $ 45,000.00 Overhead Costs Arrangement the machine $ 9,500.00 Material accepting expense $ 5,500.00 Other data Work hours 450 Hours (P: 60hrs and Q: 40 hrs) Number of Setups 95 (P: 45 and Q: 50) Number of Requisite 55 (P: 35 and Q: 20) Material P: $ 10000 Q: $ 5000 Cost Allocation utilizing the conventional costing technique Conventional Costing Method Points of interest P Q Direct Material expense $ 10,000.00 $ 5,000.00 Direct Labor cost $ 25,000.00 $ 20,000.00 Overhead expense $ 8,333.33 $ 6,666.67 Absolute Cost $ 43,333.33 $ 31,666.67 Cost Allocation under action based costing Action Based Costing Method Points of interest P Q Direct Material expense $ 10,000.00 $ 5,000.00 Direct Labor cost $ 25,000.00 $ 20,000.00 Overhead Costs Arrangement the machine $ 4,500.00 $ 5,000.00 Material accepting expense $ 3,500.00 $ 2,000.00 Absolute Cost $ 43,000.00 $ 32,000.00 End It very well may be said that customary cost strategy gives just the premise to cost designation not the presentation estimating strategy according to costing procedures. Then again movement based costing is valuable technique for cost distribution as it can likewise be utilized for execution estimation. References Bromwich, M. what's more, Bhimani, A., 2005.Management bookkeeping: Pathways to advance. Cima distributing. Cooper, R. what's more, Kaplan, R.S. 1991. Benefit Priorities from Activity-Based Costing. [Online]. Accessible from: https://hbr.org/1991/05/benefit needs from-movement put together costing [Accessed with respect to: 28 February, 2018]. Hayden, A. 2017. Action Based versus Customary Costing. [Online]. Accessible from: https://quickbooks.intuit.com/r/estimating system/movement based-versus conventional costing/[Accessed on: 28 February, 2018]

Problem question Essay Example | Topics and Well Written Essays - 2000 words

Issue question - Essay Example As per segment 143 (1) CJA 2003 transparently specifies that the graveness of a specific offense must be built up by returning to two principle components; the blame of the lawbreaker and the harm that came about because of the wrongdoing or conceivably being established by the wrongdoing (W100 group, 2012; p. 55). From Jake’s specialist perspective, he should be attempted as a first guilty party thinking about the graveness of the offense. From the data gave for the situation Jake has no past criminal records or feelings. Henceforth the explanation behind the officer to pass a fitting sentence that won't hurt him more. Returning to factor number one concerning blame or culpability of the offender, it is apportioned into four principle parts as indicated by level of reality. The guilty party may have had the target to resolve to make harm or injury the people in question. He/she may have been thoughtless in making injury the point that he/she realizes damage will be caused how ever he/she despite everything goes ahead to carry out the wrongdoing. Also, the wrongdoer could have had realities about the approaching dangers of causing hurt yet he/she didn't have the goal to cause injury. In conclusion, the criminal could be absolutely careless of the dangers and the presumable damage. Basing on the realities given Jake falls at all earnestness to a degree that he was absolutely careless of the dangers in question. Jake carried out the wrongdoing without much forethought without placing as a main priority the looming dangers. He had the supposition the proprietor had just left in rush and that the said proprietor bothered him notwithstanding his friends’ aggravation and mocking of his whole circumstance. Hence Jake must be charged under the least earnestness or culpability. Furthermore, the mischief caused during the criminal demonstration checks a great deal for magistrates’ assessment. In spite of the fact that the condition of mischief is diff icult to characterize, segment 143 (1) CJA 2003 puts forth an attempt to aggregate damage in three wide features that might be utilized during the court procedures or preliminaries of the guilty party (W100 group, 2012; p. 55). Injury to people or casualties could be assault, mental mischief or loss of accounts; devastation to the general public which could envelop annihilation of general wellbeing offices hurt to the national security and in conclusion damage to the creatures. Despite the fact that from the realities given, the multi year kid got frightened to a state of not being disregarded for over 3 months, Jake didn't know that his activities could come in the line of the a youngster. In addition, the mother being worried to a degree of going to advising for six meetings, Jake had no goals to terrify anybody. On the off chance that by any point she got frightened, at that point unmistakably her activities with those of the youngster frightened her away. Jake was seeking after a serene activity; where he anticipated that nobody should spot him. From the arrangement of occasions in the data gave it is obvious that as much as possible completely fault Jake for the offenses given, simultaneously one must note that Jake followed up without really thinking and not on aim. The specialist should likewise utilize different factors, for example, moderating and disturbing components in guarding Jake. These components are crucial in administering judgment upon the blamed or guilty party.

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The Ancient Roman Way of Life Essay - 1205 Words

The Roman way of life is different and similar to modern day. Though one may not know much over the Roman’s the culture is fascinating and still remembered in history. The clothes, food, customs, and leisure are major in Roman lifestyle. During the ancient Roman time period, clothing was crucial in citizens’ status of either emperor, wealthy, middle class, poor, or slave. The emperor would have worn the toga trabea, which was, â€Å"formal differences in togas which denoted social rank† (Roman Dress). The emperor himself would wear a toga with a purple stripe to show his status. As emperor, he would also wear the latus clavus, tunica palmata, and the toga palmata. For wealthy citizens, â€Å"It was simply deemed improper for such a Roman citizen of†¦show more content†¦In addition, Romans had amazing food and dining utensils that they used for their dinner parties and elaborate meals. During Ancient Rome, â€Å"Romans waited until the main meal of the day, the cena, (Tingay and Marks 38) to truly eat. The cena came in three courses, the appetizers, the main course, and the secundae mensae. When the food was served, it came with plenty of wine. This was because Romans had two hundred varieties or more from all over the empire. In the cena, â€Å"Food was served on dishes. Most were made of glass or pottery, but if the family was very rich there would also be ornate platters of gold and silver (Tingay and Marks 39). The Romans had spoons and knives but they preferred eating with their hands and fingers. As the slaves brought the food out on various dishes they would also pour the wine from the amphorae into a jug for easy pouring during meals. At many of the meals the host would normally have three couches, the summus, medius, and imus. (Top, middle, bottom). â€Å"The diners were seated according to their social status† (Tingay and Marks 39). When the guest arrived at the host’s house for the dinner party there woul d be couches surrounding the tables and musicians, jugglers, acrobats, dancers, and conjurers performing. The hosts hired entertainers to the meal to make it more enjoyable and entertaining. The first course was mainly consisting of salads, seafood, eggs, and mulsum. (Wine sweetened with honey). Next, â€Å"the mainShow MoreRelatedGreek And Roman Civilizations : Greece And Ancient Civilizations1498 Words   |  6 Pages Greek and Roman Civilizations In examining the impact that the ancient world has had on modern Western civilization, the two ancient civilizations which are frequently understood as having had the greatest influence are Ancient Greece and Ancient Rome. These two civilizations would eventually come to shape much of what would become the modern European culture, politics and society, and by extension, a vast proportion of global culture and society. 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Feminist Waves What Does the Metaphor Mean

Beginning with a 1968 article titled Second Feminist Wave by Martha Weinman Lear in the New York Times Magazine, the metaphor of waves was used to describe feminism at different points in history. The first wave of feminism is usually assumed to have begun in 1848 with the Seneca Falls Convention and to have ended in 1920, with the passage of the Nineteenth Amendment giving American women the vote.   While early in the movement, feminists took on such issues as education, religion, marriage law, admission to professions and financial and property rights, by 1920 the major focus of the first wave was on voting.   When that battle was won, womens rights activism seemed to disappear. Women’s Suffrage: What You Need to Know The second wave of feminism is usually assumed to begin in the 1960s and run through the ERA deadline of March, 1979, or the extended deadline in 1982. Second Wave Feminism: 1960s and 1970s But the truth is that there were feminists -- those who advocated womens advancement towards equality -- before 1848, and there was activism between 1920 and the 1960s on behalf of womens rights.   The periods from 1848 to 1920 and during the 1960s and 1970s saw more focus in such activism, and there were backlashes from 1920 – 1960 and starting in the 1970s, which lend some credence to the image of waves cresting and then the water falling back. Like many metaphors, the â€Å"waves† metaphor both reveals and hides some truths about the women’s rights movements.

Analysing Carbon Emissions From Pakistan Environmental Sciences Essay Free Essays

string(89) " have shown that increased GHG degrees in ambiance are believed to do planetary heating\." The anthropogenetic CO2 emanations and planetary heating has alarmed worldly to happen new and better ways to run into the energy demand while cut downing the GHGs. Pakistan is besides badly affected by energy crisis and environmental jobs. Pakistan brick kilns are one of the major fluke gas emanation resources. We will write a custom essay sample on Analysing Carbon Emissions From Pakistan Environmental Sciences Essay or any similar topic only for you Order Now The intent of this research is to develop a simulation theoretical account to relieve CO2 emanations and utilize it for the production of fertiliser that helps the agribusiness needs and economic system. The widely used MEA dissolver to capture flue gases is replaced by Aqueous Ammonia because the subsequently non merely absorbs all three major acid gases ( CO2, SO2 and NO2 ) to greater extent but besides produces a compound fertiliser from these acid gases which has advantage over other fertilisers and does non pollute the land H2O. It has been found that soaking up efficiency is increased with addition of NH3/CO2 molar ratio. This methodological analysis has been first clip introduced in Pakistan to bring forth a fertiliser from the flue gases of brick kilns. This technique can significantly cut down air pollution and a measure towards sustainability. The phenomenon of planetary heating has changed its form and converted itself to planetary warning. It is due to non merely the monolithic emanation of GHGs in the ambiance but besides deficiency of appropriate direction system to cut down the monolithic sum of the GHG. GHG chiefly consists of CO2, H2O bluess, methane and last but non least choloroflorocarbon. Harmonizing to the Intergovernmental Panel on Climate Change ( IPCC ) , about three-quarterss of the addition in atmospheric CO2 is attributable to firing fossel fuels. [ IPCC, Climate Change 2001: impacts, version and exposure. Contribution of working group II to the Third Assessment Report of the Intergovernmental Panel on Climate Change, Cambridge: Cambridge University Press ; 2001. ] If the C in all the estimated dodo fuel militias were emitted to the ambiance, the C concentration would lift to more than 5 times pre-industrial degree. [ O’Neill BC, Oppenheimer M. Climate Change: Dangerous Climate impacts and the Kyot o protocol, Science 2002 ; 296 ( 5575 ) :1971-2. ] With mention to the IPCC anticipation, the ambiance would incorporate up to 570 ppm of CO2 by the terminal of 2100, doing a rise of mean planetary temperature of around 1.9o ­C and an addition in average sea degree of 3.8 m [ Stewart C, Hessami M.A survey of methods of C dioxide gaining control and sequestration- the sustainability of a photosynthetic bioreactor attack, Energy Convers Manage 2005 ; 46 ; 403-20 ] . Another IPCC studies on CO2 gaining control and storage gives planetary CO2 emanation in 2000 at 23.5GT with about 60 % of this attributed to 7887 beginnings above 100,000 tonne/year including 4942 electrical power Stationss which emitted 10.5GT/year CO2. the staying 40 % emanations were chiefly from transit systems. [ IEA particular study on C dioxide gaining control and storage, IPCC web site: www.ipcc.ch ; 2005 ] . Other than power workss and cars brick kilns are besides lending in environmental pollution. Coal and wood are normally employed in the fabrication of bricks in Pakistan. The burning of coal and wood release C dioxide, methane, C atom, azotic oxide and a assortment of manufactured chemicals that do non happen in nature like Chlorofluorocarbons, ozone, C monoxide, non-methane hydrocarbons, ( NMHCs ) and nitrogen oxides [ 2 ] . Harmonizing to our appraisal there are more than 1000 brick kilns working in the locality of Lahore. The one-year production of bricks is about 46 million per twelvemonth from more than 6000 brick kilns in Pakistan. The emanations from Brick Kiln industry in Pakistan is at scaring degree. It has been estimated that about 533019 dozenss of untreated nursery gases are emitted from these kilns on one-year footing which contribute in assorted environmental jobs can be observed in table 1. [ 2 ] . The tallness of chimney is besides non high plenty because of which the somberness leans downwards to the land, finally fouling the country. Table 1: CO2 Emissions of states of Pakistan State Probationary Division Green Houses Gases Emission ( tons/year ) Green Houses Gases Emission % age Punjab Entire 479467 89.96 Sindh Entire 34332 6.44 Khyber Pakhtunkhwa Entire 14745 2.76 Balochistan Entire 4475 0.84 Grand Total 533019 100 Figure 1: Pakistan CO2 emanation ( metric dozenss per capita ) Figure 2: Word CO2 emanation ( metric dozenss per capita ) Emissions from Brick kiln: The emanations from Brick Kiln industry in Pakistan is at scaring degree. The values of GHGs release calculated from the up matching to 6000 brick units established in the state are 139600, 19600, 495200, 2100, 360, 17 and 540 T severally for entire C ( C ) , C dioxide ( CO ) , C dioxide ( CO2 ) , methane CH4, azotic oxide ( NO ) , nitrogen dioxide ( N2O ) and NOx. It is apparent that GHGs emanations are dominated by C dioxide ( CO2 ) followed by CO and other non- CO2 gases. Projected parts of GHGs from the Punjab state to the state ‘s entire emanations are highest which can be observed in the Table 1. [ 2 ] . Environmental Issue: Environmental issues due to emanations of pollutants from burning of fossil fuels have turned into planetary jobs, every bit good as air toxics and nursery gases ( GHGs ) . The usage of fossil fuels for energy contributes to a figure of environmental jobs globally. Harmonizing to the Intergovernmental Panel on Climate Change ( IPCC ) [ 1 ] , about three-quarterss of the addition in atmospheric CO2 is attributable to firing fossil fuels. Table 2 shows the harmful pollutants released into the ambiance from combustion of fossil fuels. If the C in all of the estimated dodo fuel militias were emitted to the ambiance, the C concentration would lift to more than 5 times pre-industrial degrees [ 2 ] . Table 2: Fossil fuel emanation degrees ( pounds/billion BTU of energy input ) Pollutant Natural Gas Oil Coal Carbon dioxide 117000 164000 208000 Carbon monoxide 40 33 208 Nitrogen oxide 92 448 457 Sulphur oxide 1 1122 2591 Particulates 7 84 2744 Mercury 0.00 0.007 0.016 Entire 117140 165687.007 214000.016 Beginning: EIA Surveies have shown that increased GHG degrees in ambiance are believed to do planetary heating. You read "Analysing Carbon Emissions From Pakistan Environmental Sciences Essay" in category "Essay examples" Among these GHGs, CO2 makes up a high proportion in regard of its sum nowadays in the ambiance, lending 60 per centum of planetary heating effects [ 3 ] . World Consumption of Fertilizer World fertiliser ingestion increased exponentially in the period 1950- 1990. This growing was spurred by the rise in nutrient demand by increasing universe population. Achieving higher production given the same sum of land can be done through three ways. Turning more land into cultivable land through better irrigation Using High Yielding Seeds ( HYS ) Using fertilisers to better dirt content Improvement in dirt content is the most convenient and often followed method. Furthermore, it has gained widespread usage as nutrient demand rises. The exponential growing in universe fertiliser ingestion experienced a brief downswing in the early 1990 ‘s due to the prostration of fertiliser ingestion in the states of cardinal Europe and the Former Soviet Union, following structural alterations and economic jobs. However station that brief downswing, growing in fertiliser ingestion is once more on the rise and rapid growing is expected to go on in the hereafter. Harmonizing to IFA estimations, the universe fertiliser ingestion is expected to make 199.2mntpa in 2030 from 174.7mntpa in 2015. Figure 3: World Fertilizer Consumption Measure towards Sustainability It is clear that CO2 is the chief constituent that is present in surplus more than other pollutants and fouling the environment. To maintain the environment clean such techniques must be employed that non merely capture the CO2 and other gases and besides utilize them to bring forth a valuable merchandise from these flue gases. This thing will assist in economic system and maintain the environment clean and finally capturing and transition of CO2 from flue gases into a valuable fertiliser ( NH4HCO3 ) is so the first measure towards sustainability. Work The Aqueous ammonium hydroxide is used as a dissolver to capture the fluke gases breathing from the brick kiln which non merely captures CO2, but besides SO2 and NOx. The ammonia solution after soaking up was found to incorporate ammonium hydrogen carbonate [ NH4HCO3 ] , ammonium sulphate [ ( NH4 ) 2SO4 ] , and ammonium nitrate [ NH4NO3 ] , which comprise a compound fertiliser Figure 4: the fluke gases CO2, SO2 and NOx from the stack of brick kiln are breathing. The reaction of aqueous ammonium hydroxide with CO2 non merely captures CO2 but besides give a by-product ; ammonium hydrogen carbonate ( NH4HCO3 ) used a fertiliser Absorption ability of Aqueous Ammonia Vs MEA MEA Process Amine soaking up engineering The soaking up engineering which uses amine solution ( MEA ) is being used in natural gas industry for 60 old ages and is considered as a mature engineering. Natural gas industry utilizes MEA to absorb CO2 from natural gas. The remotion of CO2 from burning fluke gas can be done by a figure of commercial MEA soaking up processes. In an absorbent, the MEA solution is allowed to hold a contact with fluke gas which consequences in the soaking up of CO2. When used in a power works, CO2 is entrapped by the dissolver while the fluke gas is bubbled through the dissolver in a jammed absorber column. Subsequently the captive CO2 is stripped off of the dissolver by counter fluxing steam at 100 to 200 grade Celsius in a regenerator unit. CO2 watercourse is concentrated ( up to 99 % ) due to the vaporization of H2O bluess and this watercourse can subsequently be compressed for commercial applications or storage. The procedure is economically hapless as it calls for a big equipment and intensive e nergy input. Recycle rate of CO2 for MEA is 98 % : The basic reaction for this procedure is: C2H4OHNH2+H2O+CO2C2H4OHNH3++HCO3- Disadvantages of MEA procedure MEA procedure bears some defects which are: 1. Loading capacity of CO2 is little 2. Equipments confronts high corrosion rates 3. High absorptive make-up rate is generated by amine debasement chiefly because of SO2, NO2, HCl, HF and O in fluke gas 4. Energy ingestion is really high particularly during high temperature absorbent regeneration When the CO2 is entrapped from coal or crude oil derived burning fluke gas, hints of sulphur dioxide should besides be removed to avoid debasement of MEA by SO2 and O meanwhile irreversible debasement merchandises are constituted. The cost of MEA procedure is high on history of debasement even if all of the SO2 is removed from the fluke gas by using a desulphurization unit. Oxides of N should besides be dispatched organize the fluke gas to maintain up the emanation bounds. Figure 5: Degradation MEA by CO2 and O2 The cost of MEA make-up is high because of debasement, even after most of the SO2 is removed from the fluke gas in an upstream fluke gas desulphurization unit. NOx must besides be finally removed from the fluke gas before it is discharged into the air in order to run into present and future gaseous emanation bounds. Advantages of Aqueous Ammonia over MEA Replacement of widely used MEA procedure by individual Aqua Ammonia procedure can ensue in the gaining control of all three major acid gases along with HCl and HF which might be in the fluke gas. Since emanations of SO2 and NOx must maintain up certain emanation bounds, a individual procedure is more than plenty to cut down the capital cost by capturing all the acid gases and besides simplify the complexness of emanation control system. Presently there is no emanation bound on CO2 but clip is non far off when it will besides hold a restricted emanation bound. Sulpher dioxide and O in flue gases can bring on equipment corrosion ; the Aqua Ammonia Process can acquire over this job by cut downing absorptive make-up rate. Another advantage of the Aqua Ammonia procedure over the MEA procedure is that the energy demand for absorptive regeneration is predicted to be really low. Beforehand it was approximated that thermic energy ingestion for CO2 regeneration utilizing the Aqua Ammonia Proce ss could be at least 75 % less than the MEA procedure. Many other economical grounds are besides at that place to back up the ammonium hydroxide procedure The profitable by-products, ammonium hydrogen carbonate ( NH4HCO3 ) ammonium sulphate ( ( NH4 ) 2SO4 ) and ammonium nitrate ( NH4NO3 ) are produced, used as a fertiliser Advantage of production of NH4HCO3 China had been preferring ammonium carbonate as a N fertiliser for about 30 old ages. It is already elaborated that when ammonium carbonate is used as a nitrogen fertiliser deep in the dirt its action of work is merely similar urea and ammonium sulfate. As we know that carbonates react with alkalic Earth minerals ( Ca, Mg ) ensuing in the formation of carbonated minerals. Excessive usage of land H2O may do high degrees of alkaline minerals in dirts as in the western United States ; the hydrogen carbonate from ammonium carbonate non merely neutralizes alkalic species but besides deoxidizes salt into stable compounds like H2O and Ca carbonate. HCO3-+Ca2++OH-H2O+CaCO3v Solid merchandises like CaCO3 are a absolutely stable signifier of cloistered CO2 ( Fig. ) . Furthermore, dirt had a capableness to move as a engagement stuff which held back NH4+ but allow HCO3- dribble down with rainfalls or irrigation to land H2O which was already enriched with alkalic minerals Ca2+ . Consequently carbonates reacted with alkalic minerals in land H2O ensuing in the deposition of carbonated minerals in the undersoil Earth bed ( fig. 5A ) . Dirt atoms are negatively charged therefore it attracts positively charged ions but repel negative ions due to its higher affinity for positively charged species ( NH4+ ) as compared to negatively charged species ( HCO3- ) . Figure 6: There upon when ammonium nitrate is used as a fertiliser, NO3- over flows with H2O which non merely consequences in the want of the fertiliser but besides taint of land H2O. Carbonates are non as unsafe species as nitrates because those do non do wellness jobs therefore NH4HCO3 and ( NH2 ) 2CO are preferred fertilisers. Groundwater motion takes carbonates to the Earth subsurface every bit deep as 500 to 1000 m where they deposits as carbonated minerals Figure 7: Loss of fertiliser and taint of land H2O by utilizing NH4NO3 It is obvious that use of NH4NO3 as fertiliser contaminates the land H2O and NO3- is easy run off where as when NH4HCO3 is used as a fertiliser could cut down the job of NO3- overflow and does non pollute the land H2O. Methodology Aqueous Ammonia Procedure It has been proposed that the widely utilised MEA procedure is replaced with aqueous ammonium hydroxide procedure to capture all three major acid gases ( SO2, NOx, CO2 ) plus HCl and HF, which may co-exist in the fluke gas. Since SO2 and NOx emanations must stay by with certain emanation bounds, a individual procedure to capture all acidic gases is expected to cut down the sum cost and complexness of emanation control systems. Unlike the MEA procedure, the Aqua Ammonia Process ( AAP ) is non expected to hold absorptive debasement jobs that are caused by sulfur dioxide and O in fluke gas nor is it expected to do equipment corrosion. The application of ammonium hydroxide for coincident decrease of SO2, NOx and quicksilver has besides been reported [ 31 ] . Different theoretical accounts and methods have been proposed and tested. In our theoretical account, we have chosen Aqueous ammonium hydroxide as the dissolver. The theoretical account was developed on HYSYS 3.2. General NRTL was selected as the fluid bundle. This unstable bundle is rather various and it non merely accommodates the belongingss of our system constituents but besides the aqueous and assorted solvent systems. The flow-sheet of our theoretical account is shown in Fig. 3 Flue gas enters the absorber from the underside to the top through the absorber where interacts in counter-clock manner with aqueous ammonium hydroxide dissolver ( NH3+H2O ) Table 3: Flue gas composing from brick kiln Sr. Number Component Mole Percentage 1 N2 71 2 Carbon dioxide 6.06 3 Carbon monoxide 3.94 4 NO2 8.89 5 Water 3.11 6 H2 2.12 7 SO2 4.88 Procedure Chemistry The procedure of soaking up of CO2 by aqueous ammonium hydroxide involves a complex chemical gas-liquid reaction [ 1 ] , whose general chemical reaction look follows: NH3+H2O+CO2NH4HCO3 ( 1 ) In fact, there are a series of in-between reaction procedures incorporated: NH3+CO2NH2COONH4 ( 2 ) NH2COONH4 hydrolyzes into NH4HCO3: NH2COONH4+H2ONH4HCO3+NH3 ( 3 ) Besides, ammonium hydroxides can respond with H2O to make NH4OH: NH3+H2ONH4OH ( 4 ) NH4HCO3 produced by hydrolytic reaction will respond with NH4OH to make ( NH4 ) 2CO3: NH4HCO3+NH4OH ( NH4 ) 2CO3 ( 5 ) ( NH4 ) 2CO3 absorbs CO2 and creates NH4HCO3 ( NH4 ) 2CO3+H2O+CO22NH4HCO3 ( 6 ) Spraying aqueous ammonium hydroxide into fluke gas non merely captures CO2 but besides absorbs hints of SOx and NOx from the fluke gas in conformity with the undermentioned chemical equations: NOx+SOx+H2OHNO3+H2SO4 ( 7 ) HNO3+H2SO4+NH3NH4NO3+ ( NH4 ) 2SO4 ( 8 ) The merchandise formed ammonium hydrogen carbonate ( NH4HCO3 ) has been used as a N fertiliser in China for over 30 old ages. It has been good demonstrated that when NH4HCO3 is placed into deep dirt, its nitrogen fertilisation consequence on harvests is similar to that of other N fertilisers, such as ( NH4 ) 2SO4 and urea. The intent of this work is to relieve the emanation of CO2 from the selected brick kiln, as this gas is among the major perpetrators doing green-house consequence which has finally resulted in drastic and black conditions alterations and temperature-rise to alarming degrees across the Earth. Each twelvemonth the add-on of Carbon dioxide entirely from the brick industry of Pakistan is 35072.65. Gas soaking up has so far been the most utile and advantageous technique which has been covered good in the subdivision station C techniques. Experimental The CO2 soaking up rate surveies were performed in an absorber in dynamic simulation environment on hysys 3.2. shown in Figure 3. The temperature of gases breathing from top of the brick kilns is in the scope of 120 to 150 A ; deg ; C. The composing of the flue gasses were found utilizing industrial burning and emanation analyser ( E8500, USA ) which is shown in Table 2. Aqueous Ammonia solution is passed through a ice chest in order to diminish the temperature of aqueous ammonium hydroxide temperature, as it gives best consequence at low temperature, introduced from top of the column through valve. The fluke gas is introduced through from the underside of an absorber through a pump that increases its flow rate. In absorber counter flow soaking up takes topographic point and as a consequence, most of the CO2, SOx and NOx are absorbed and a by-product, NH4HCO3, is produced, which is widely used as fertiliser. Figure 8: Procedure flow sheet Absorber Design In our Hysys theoretical account we selected an absorber for the soaking up of flue gases. We used different temperature force per unit area conditions for absorber in order to the happen the best soaking up efficiency and cipher the no. of phases. We found that after nine plates the soaking up efficiency is decreased as shown in graph, and maximal soaking up is achieved utilizing aqueous ammonium hydroxide in an absorber of nine home bases. Figure 9: No of phases Vs mole fraction of CO2 absorbed In our HYSYS theoretical account, we varied different parametric quantities ( i.e. Temperature, Pressure, Flow-rate, Aqueous Ammonia concentration etc. ) and examined the resulting per centum of CO2 absorbed. Consequences and Discussion The rate of soaking up is affected by variables such as temperature, force per unit area, flow-rate, solvent per centum etc. all these variables were manipulated to analyze their consequence on soaking up with the aid of ensuing tabular arraies and tendencies. The consequences of all these parametric alterations are discussed one by one. Consequence of Flow rate on CO2 Absorption: The consequences obtained by simulation of our HYSYS theoretical account show understanding with the standard findings that there is addition in soaking up with that of addition in flow rate. In our HYSYS theoretical account, we used different flow-rates and it has been found that soaking up efficiency is increased with addition of NH3/CO2 molar ratio as shown in Fig. At about a NH3/CO2 molar ratio of approximately 1.5, the highest CO2 soaking up efficiency was measured at approximately 97 % and 100 % for instance of NOx and SOx. In our simulation theoretical account at 230kgmole/hr the maximal soaking up of 97 % of CO2 is observed. At high flow rate i.e. after 230 kilogram mol/hr the consequence of flow rate on soaking up does non demo the same increasing tendency. Model with different fluctuation of temperature was simulated but here the coincident consequence of flow rate between 20 A ; deg ; C to 30 A ; deg ; C on soaking up of CO2 have been shown Figure 10: Molar ratio of NH3/CO2 Vs CO2 Absorbed % Figure 11: Consequence of flow rate of Aq.NH3 on soaking up of CO2 Consequence of Temperature on CO2 Absorption: It is a good known fact that temperature is reciprocally related to the rate of soaking up, our simulation theoretical account besides gives the correspondent consequences. The system temperature was varied from 15 A ; deg ; C to 40 A ; deg ; C with different solvent per centum ( 10.5 % , 14 % and 20 % ) and there was a grade lessening in soaking up rate with the increasing temperature and addition in soaking up with lessening in temperature. The ensuing graph is shown. Figure 10: Consequence of Temperature on CO2 soaking up Consequence of NH3 concentration in solution on soaking up rate The effects of ammonia concentration on CO2 soaking up rate are shown in graph. As the CO2 soaking up reaction progresses, the rates are higher for the solutions with higher ammonium hydroxide concentrations. As expected, CO2 took longer to divide through the solutions holding higher ammonia concentration. For overall absorptive of CO2, the information forms indicate out that it is more advantageous to utilize a higher concentration ammonia solution as CO2 absorbent. The decisions are the same at all three reaction temperatures. By utilizing 20 % AA at 15 A ; deg ; C 96 % maximal soaking up is observed. Therefore 20 % AA solution was selected as the optimal solution. Decision In this work, a theoretical account has been developed and simulated, which aims at the control of CO2 gas which is continuously come ining to the environment from the brick industry in Pakistan and bring forth a fertiliser from the flue gases. It is for the first clip that the brick industry in Pakistan has been analyzed with this position that by spraying aqueous ammonium hydroxide into existent fluke gas produced by a brick kiln can non merely gaining control CO2 but besides absorb SO2 and NOx from the fluke gas and specially gives a compound fertiliser as a by-product. Presently, there is merely one known commercial procedure that uses ammonium hydroxide to at the same time take SO2 and NOx from fluke gas within one reactor and bring forth assorted ammonium sulfate and nitrate fertiliser The soaking up efficiency of CO2, SO2, and NOx in existent fluke gas from a coal-burning installation varies depending on the reaction conditions. The soaking up efficiency of CO2 and SO2 was found to increase with an addition in the concentration of aqueous ammonium hydroxide. Over the NH3/CO2 molar ratio of 1 to 1.5 that was tested, and maximum the CO2 gaining control efficiency was measured at 1.5 is 97 % . The aqueous ammonium hydroxide soaking up solution was found to incorporate a assorted crystalline of ammonium hydrogen carbonate [ NH4HCO3 ] , ammonium sulphate [ ( NH4 ) 2SO4 ] , and ammonium nitrate [ NH4NO3theiˆ ] chief constituents of a compound fertiliser. The captive CO2 in the aqueous ammonium hydroxide solution is in the signifier of HCO3 – and CO3 -2. For a certain molar ratio of NH3/CO2, there is a balanced concentration of HCO3 – and CO3 -2 in the assorted ammonia solution. By spraying the assorted ammonia solution into flue gas incorporating CO2, higher NH4HCO3 content ( higher HCO3 – concentration ) in assorted solution can be obtained. 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Roles of Deregulation on Banking Sector free essay sample

What roles have deregulation, innovation, and globalization played in changing the character of bank management in recent decades? Has the overall outcome of the changes been greater stability in the banking sector? Discuss the respective roles of asset and liability management in modern banking. Deregulation, innovation and globalisation has changed the way banks run from asset management to liability management, as well as the change from ‘mono’ to ‘multi-tasking’ and the increased competition in the sector as well as risk. The banking system has evolved drastically from the traditional mono-tasking institution to what it is now. This change in roles of asset and liability management could be one of the main reasons behind the global financial crisis of which the aftermath effects are still being felt. In this essay I will analyse these three trends in turn and so to explain the reasons for the change to liability management. Traditionally, the role of the banks are simple (post war period 1945-60s) there were strict credit controls (or credit rationing) by the state (there were large public sector war debt) to keep repayments obligations on this debt low. The low interest should also be of aid in sustaining a high demand for Gilts (UK government bonds), allowing no competition on the liabilities side of the bank’s balance sheet. The Liabilities side of the bank’s balance sheet is mainly composed of customer deposits (shows passive banking). They take deposits in, and loans out as the main source of income; this is referred to as ‘mono-tasking’. It should be noted that in more theoretical consensus that regulation in banking has tended to be increasingly destabilizing as the economy has become more dynamic. The process of deregulation changed all this; deregulation came in two forms: first was the removal of self-regulatory restrictions, those were the regulations established in the financial sector to keep away substandard service providers; second was the removal of government restrictions which came in three phases: ) The ending of the traditional/mono-tasking structure of the sector, which is a decisive blow to the traditional framework. On the asset side, we have the lifting of quantitative controls on bank’s assets (deregulating the use of funds); and on the liabilities side they lifted ceilings on interest rates on deposits (deregulating sources of funds) as to promote more competition. The UK began deregulating much earlier than the US; this is because the US is more tightly regulated than Europe (due to the large amounts of bankruptcy and anti-monopolistic view). The US lifted its â€Å"regulation Q† act in 1980 (which limited interest rate payable on deposits) but by that time they deregulated many banks moved to Europe where it has been deregulated for a long time. The UK Heath government (1970s) lifted credit restrictions and enabling banks to expand liabilities competitively. In the 1970s the UK was increasingly allowed to use variable rate lending (e. g. LIBOR) instead of sticking to with an unprofitable loan rate when interest rates were volatile; this endowment gave banks higher profit margins. Later on in 1980s the Thatcher government ended all credit and FX exchange controls. This promoted the change from asset management to liability management, variable rate lending meant stock of loans could be determined by demand, and effective those who want a loan gets a loan. This was explained by the Net interest margins (NIM=interest revenue on assets-interest revenue on liabilitiesinterest earning assets). This differential actually improves the bank’s profitability. Banks therefore actively create liabilities (borrow from other banks) in ‘money markets’ and thus switch to ‘liability management’ trying to maximise sources of funds. The asset management of the past where loans was seen as a ‘person to person’ management no longer existed, as banks greatly expanded their balance sheet they reduced their capital to asset ratios (high gearing) and mortgages are bundled and not monitored, consequently the risk exposures of banks began to increase (complexity of bundling was a factor which led to the current crisis). ) The second phase sees the ending of the sharp distinction between banks and NBFIs (non-banking financial institutions). In the 1980s, banks were given the right to compete in the mortgage market and building societies allowed to compete in the market for consumer credit; i. e. both allowed in each other’s markets. Whereas in US, banks were not allowed to compete in the field of investment banking and insurance until 1999. 3) The third phase allowed increased competition within the financial sector and from outside it. NBFIS and other new kinds of financial institutions attached to other financial operations provided new kinds of services such as online banking (within the financial sector). Firms from outside the financial sector also entered the financial services market including Tesco, Marks and Spencer (UK), and GM and GE in the US (General electric’s financial arm makes 1/3 of its profits! ). The three phases of deregulation is the main driving force for banks and NBFIs to compete aggressively and take on excessive risk (through actively searching out liabilities) to gain higher profit margins. By expanding their balance sheet through liabilities, they increase exposure to credit risk and become highly sensitive to the state of the economy i. e. more defaults during downturns of the economy. Apart from deregulation, financial innovation also played a role in the shift to liability management. Since the 1970s, there has been great instability in the financial environment; there were unpredictable swings in interest rates, exchange rates and inflation; there’s increased demand for NEW financial instruments to hedge against this risk. This lead to the development of all sorts of exotic instruments such as currency options/options/exchange contracts, interest rate swaps and credit default swaps. It is no longer adequate for banks to look at averages over time, investment banks now trade at massive quantities (high-frequency trading) to profit from the narrowest margins. The development of ever more complex instruments is also the solution for the ever increasing sophistication of regulation, as to find loopholes. US banks started to branch out to off shore operations in order to exploit the loosely regulated markets. This is one of the effects which is interconnected to globalisation (discussed later on) Financial innovation also includes technological developments which includes the computerisation of banking, telecommunications and customer’s files. The introduction of electronic payments (credit cards) and ATMs also saw unit transaction costs fall. More importantly, there is a growth in automated trading services, allowing banks to process high volume trading comparing to traditional banking. Lastly we have the factor of Globalisation in the shift to liability management. It follows on the things discussed earlier in the essay; the UK started deregulating far earlier than the US and this became a pull factor; so this is great motivation for the US firms to expand into the European market (funding is restricted by regulation Q which as a push factor), a more profitable and a larger Eurodollar market. This in general shows globalisation in the financial system and the growth of MNCs in general. Securitisation has also increased pace of globalisation of banking. This refers to pooling contractual debt (mortgages/car loans) and selling these in the form of bonds or Asset backed securities. Eventually this lead to the fragility of the bank’s balance sheet; if much of the bank’s assets is no longer ‘mediated’ why should you trust another bank? This lead to the financial crisis we have today, where the fall in house prices in the US lead to the fall in securities (the Asset backed securities) damaging financial institutions globally and created insolvency issues. The collapse of big financial institutions eventually lead to the biggest bailout ever in US history; deregulation, financial innovation and globalisation all played a part in this crisis. Based upon the discussion of the three common trends in the banking sector that led to a shift from asset management to liability management above, I will now focus on how these contributed to the expansion of bank’s balance sheets. Interlinking deregulation, innovation and globalization, we see banks fighting harder to compete amongst one another and with NBFIs as well. As more and more major conglomerates start offering financial intermediation services, it is no wonder banks have been driven to expand their balance sheets to remain competitive. Where this was previously unattainable due to strict regulations in the banking industry, the deregulation that has taken place now creates a great incentive for banks to take on more risks in order to expand their balance sheets. Furthermore, the absolution of the Glenn Seagal Act in the UK has led to a Banks finance their expansion by borrowing from the inter-bank loan markets, hence leading to the huge increase in financial sector debt over the last 3 decades. This has become a cause of worry, as increased risk taking and declining liquidity of banks have led to the financial crises of 2008 that has persisted until today, as the European economy becomes increasingly volatile. Due to increased competition created by the deregulation process, banks have now become more aggressive in trying to win market share by expanding their balance sheets and providing loans or mortgages at high risks. The decreasing number of credit-worthy borrowers has lefts banks with no choice but to lower their underwriting standards and issue mortgages to high-risk individuals, resulting in a leap in subprime lending that led to the global financial crisis of 2008. Essentially, investment banks and hedge funds used financial innovation to enable large wagers to be made, far beyond the actual value of the underlying mortgage loans, using derivatives called credit default swaps, CDO and synthetic CDO. As long as derivative buyers could be matched with sellers, the theoretical amount that could be wagered was infinite. Conclusively, the transition from banks focusing on asset management to liability management today, coupled with the various effects of globalization, financial innovation and globalization has led to banks expanding their balance sheets with high risk mortgages and various other risky ventures, resulting in a massive surge of debt held by the financial sector. As deregulation decreased interest rates in the US and people demanded more loans, banks started providing loans to credit-unworthy individuals, resulting in a spike in bad debts and eventually bringing about the burst of the housing bubble in 2006/2007 which, when coupled with the fact that banks were borrowing from one another to finance risky ventures whilst maintaining a very minimal liquidity requirement has led to a vulnerability of the banking system that resulted in the global financial crisis in 2008. Economists have argued that the trend of deregulation has not kept up with the pace of financial innovation that now allowed banks to onduct various unmonitored activities that could lead to an increased vulnerability of the banking system. To prevent a future crisis, the US authorities have to re-evaluate their deregulation trends (introduction of BASEL III) and ensure that sufficient changes are made to ensure that they keep up with the pace of financial innovation. Briefly discuss how the concepts of the equity multiplier and the convexity of pay-off to holders of equity may be relevant to some current debates regarding the rewards structure in the financial sector The reward structure in the financial sector has been affected in recent years by the changing banking/financial sector especially the excessive risks that the banks are taking for more profit. In this essay I will explore the concepts of the equity multiplier and the convexity of payoffs and affects the reward structure of the financial sector. The high risk aspect of the banking sector could be described by the extremely high gearing banks engage in lending: typically over 95% of funds sourced from debt with less than 5% from equity; if we compare those figures with non-financial institutions with 70% equity funded. The asset management side is also full of risk, how do we screen for loan borrowers? If we increase r, then we get a large mix of high risk borrowers. Borrowers also have more information (private hidden actions/intentions) than the lenders, so there will be asymmetric information. Adverse selection refers to problem where those most likely to be a credit risk are most eager to be selected for a loan; Moral hazard describes the problem where after a loan is approved, the borrower has the incentive to engage in more risky activities which in turn increases the risk of default. This can be solved by â€Å"Information-producing†, that is filling forms that filters people with bad credit scores; or they can build long-term customer relationship that could be mutually beneficial, such that banks knows about the customer and customer knows that the bank knows about their situation. This is known as the â€Å"know your customer† (KYC) procedure within financial institutions, which is carried out to allow better assessment of level of risk taken. There are four main motives for banks to take on excessive risk: First, it is the pressure on the bank’s profits. Banks used to be mainly asset management based, however since the phases of deregulation and innovation and the introduction of NBFIs into the competition drove down profits of the banks. Banks expanded the liabilities side of the balance sheets, and hedging management instruments replaced asset management, so in effective customers’ deposits form a quite small proportion of the liabilities. Assets were transformed from the short-term funds (deposits) to long term, less liquid, high yielding assets. Risks involved changed from low to how. All of these are aimed to increase the yield and to increase the returns on assets. Second, it is on the capital adequacy management and the equity management. There is a trade-off between safety and return on equity (low risk/high risk). The return on equity (ROE) is defined as the Net profits/Equity Capital. If the bank wants to increase their ROE, they have the incentive to reduce equity capital. Recall that Equity Multiplier = Assets/Equity. The increase in ROE holding net profits constant will increase equity multiplier. We make an assumption that retained earnings are 0, which is the entire bank capital is equity capital. Then: A low capital bank with E:A ratio of 4% will have an Equity multiplier (A/E) = (100/4) = 25 A high capital bank with E:A ratio of 10% will have an Equity multiplier of (100/10) = 10 This means, that as we increase the equity multiplier, we also decrease the equity asset ratio, which in turn increases risk of insolvency. A higher equity multiplier implies higher financial leverage, and this will mean the financial instate has to rely more on debts to finance its assets. The third motive involves the analysis of the convexity of returns to holders of equity ? = min (L, Y) is the payout to debt holders. The function is concave: line between any two points on the curve lies beneath it. ? = max (0, Y- L) is the payoff to shareholders. The function is convex: line between any two points on the curve lies above it. The idea is that risk transfers value from debt holders to equity holders and the bigger the spread, the bigger the transfer of value. This model of convexity represents the principle-agent problem, when the manager takes on excessive risk and could be beneficial to the shareholders, but due to limit liability, shareholder bares little to no risk. The last motive is the reward structure in the financial sector. Managers typically take a performance bonus (e. g. 20%) of excess return on funds. This creates a rather large problem, managers can take on a huge ‘tail risk’ (or a huge bet) that is hidden from others, and also managers receives his reward/bonus long before the fund gets hit. This is especially damaging not to one self but also the institution. For example the rogue trader at Barings lost $1. 3billion speculating that brought down the bank that was founded over 2 centuries ago. Another rouge trader at Societe Generale lost 4. 9billion Euros, severely weakening the French bank; he claimed that his superiors knew of his trading activities and it was common practice to take huge gambles for large profits, this is especially worrying. Conclusively, all of the factors discussed above have driven the financial sector to take on larger risks that has rendered the banking system vulnerable to shocks and prone to insolvency, which is exactly what happened in the 2008 global financial crisis. Steps that can be taken to improve upon this include introducing a new rewards structure in the financial sector that ties management’s gains to the firm’s long-run performance to minimize risk-taking. Furthermore, new regulations requiring banks to hold a minimum amount of equity or any other â€Å"cushion† (higher Capital adequacy ratio) that will reduce the vulnerability of banks becoming insolvent can be implemented. All in all, the financial sector requires regulations that can minimize the trade-off between gaining revenue and maintaining a â€Å"safe† position in the economy. Although many such actions have been taken in the US after the 2008 crisis, it is still not enough to eliminate the high debts that have plagued the country for the past few years.

Free Essays on Social Attire

Abstract A common saying is that first impressions are very important in the way people will perceive others for the rest of their social relationship. â€Å"Clothing and other appearance cues provide information about credibility, identity, and anticipated behaviors of others, and is used in initial interactions to answer the question â€Å"Who is this person?â€Å" (Bassett, 1979). In my research I will examine the question of how the factor of the professors’ attire influences a students perception of the competency and sociability of that professor. My participants will answer a questionnaire based on their perception of a male and female confederate shown in a picture in three different types of clothing. The questionnaire will consist of 30 items in two areas, competency and sociability. The participants will be asked to answer the questions concerning these two areas, based on their initial perception of the confederates seen above in the picture. I expect the results to sho w that there will be significant differences between the dress style and the ratings of competency and sociability. I also expect the results to show that when gender and type of clothing are compared with each other, the female in formal clothing will receive higher ratings in competency than the male in formal clothing. In addition, I expect my results to show that there is an interaction between the gender in the different clothing conditions and the ratings of competency and sociability. Based on this study, I hope to be able to conclude that the differences of ratings in competency and sociability due to the factor of the professors clothing are by far more significant as was found in previous research. Influence of Professors’ Clothing on Student’s Perception of Competency and Sociability Twenty years ago, professors across the country experienced an immense liberation. That liberation took place in terms of the dress code that used to be f... Free Essays on Social Attire Free Essays on Social Attire Abstract A common saying is that first impressions are very important in the way people will perceive others for the rest of their social relationship. â€Å"Clothing and other appearance cues provide information about credibility, identity, and anticipated behaviors of others, and is used in initial interactions to answer the question â€Å"Who is this person?â€Å" (Bassett, 1979). In my research I will examine the question of how the factor of the professors’ attire influences a students perception of the competency and sociability of that professor. My participants will answer a questionnaire based on their perception of a male and female confederate shown in a picture in three different types of clothing. The questionnaire will consist of 30 items in two areas, competency and sociability. The participants will be asked to answer the questions concerning these two areas, based on their initial perception of the confederates seen above in the picture. I expect the results to sho w that there will be significant differences between the dress style and the ratings of competency and sociability. I also expect the results to show that when gender and type of clothing are compared with each other, the female in formal clothing will receive higher ratings in competency than the male in formal clothing. In addition, I expect my results to show that there is an interaction between the gender in the different clothing conditions and the ratings of competency and sociability. Based on this study, I hope to be able to conclude that the differences of ratings in competency and sociability due to the factor of the professors clothing are by far more significant as was found in previous research. Influence of Professors’ Clothing on Student’s Perception of Competency and Sociability Twenty years ago, professors across the country experienced an immense liberation. That liberation took place in terms of the dress code that used to be f...

Conjugating Diriger (to Direct) in French

Conjugating Diriger (to Direct) in French In French, the verb  diriger  means to direct. Its a simple word, though conjugating it to the past, present, or future tense can be a little tricky. Thats because there are a few spelling changes that you need to watch out for. Dont worry, though, a  quick lesson will show you how to handle this verb. Conjugating the French Verb  Diriger Diriger  is a  spelling change verb  and it follows the pattern of other verbs that end in -ger. This includes  dà ©ranger  (to disturb)  and  bouger  (to move), among others. The spelling change is subtle  but important. As you study the table of conjugations, notice how a few forms follow the G with an I rather than an E. This is done to ensure that the G is pronounced with a soft sound because certain vowels typically change it to a hard sound. With that in mind, simply match the subject pronoun with the present, future, or imperfect past tense. For instance, I direct is je dirige and we will direct is nous dirigerons. Subject Present Future Imperfect je dirige dirigerai dirigeais tu diriges dirigeras dirigeais il dirige dirigera dirigeait nous dirigeons dirigerons dirigions vous dirigez dirigerez dirigiez ils dirigent dirigeront dirigeaient The Present Participle of  Diriger To change  diriger  to the  present participle, add -ant  to the verb stem to create  dirigeant. This is quite versatile as it acts as a verb, adjective, gerund, or noun as needed. The Passà © Composà © and Past Participle A  common way to express the past tense directed is with the passà © composà ©. To form this, add the  past participle  dirigà ©Ã‚  to the subject pronoun and appropriate conjugation of the  auxiliary verb  avoir. For example, I directed is jai dirigà © and we directed is nous avons dirigà ©. Notice how  ai  and  avons  are conjugates of  avoir  and the past participle does not change. More Simple  Diriger  Conjugations There may also be times when you need to use one of the following conjugations. The subjunctive verb mood is useful when there is some degree of uncertainty to the verb. Likewise, the conditional is used when it may or may not happen because the action depends on something. Those are used more often than the other two forms. Its likely that you will only encounter the passà © simple and imperfect subjunctive in formal writing. Subject Subjunctive Conditional Pass Simple Imperfect Subjunctive je dirige dirigerais dirigeai dirigeasse tu diriges dirigerais dirigeas dirigeasses il dirige dirigerait dirigea diriget nous dirigions dirigerions dirigemes dirigeassions vous dirigiez dirigeriez dirigetes dirigeassiez ils dirigent dirigeraient dirigrent dirigeassent To express  diriger  in commands or requests, use the imperative form. When doing so, the subject pronoun is not required, so you can use dirige rather than  tu dirige. Imperative (tu) dirige (nous) dirigeons (vous) dirigez

The Collapsible Lunch Box Idea Essay Example | Topics and Well Written Essays - 2500 words

The Collapsible Lunch Box Idea - Essay Example The first idea involved whether we were capable of producing folding chairs. This idea failed due to the fact that after its assessment it was discovered that the production of folding chairs would cost too much. The second idea was the production disposable mats. This idea was quite a viable but it was ruled out after assessing that in order to reach to this final product it would involve quite a number of different processes. The feasibility of a business idea demonstrates how practical it is to put the idea into action. In line with this we had other options such as the production of a modified pub tray. The idea was a good one but we did not have information about the technical aspect of the product as how it would function. In addition the production of a modified pub tray would require too much work from sub contractors. Another feasible idea involved the production of plastic water cups. We discovered that the demand for this is too high and it would be quite difficult to prod uce enough to meet the demand. In this case consumer satisfaction is an essential aspect worth consideration if a business idea is to be adopted. Final considerations were the idea of a producing a washing machine dial or a collapsible lunch box. After adequate evaluation and comparison of the two it was seen that the market for the washing machine dial would be too small to make meaning profits. ... An American museum keeper by the name David Shayt pins this evolution to this century providing some of the examples of lunch boxes that were developed. These examples include a woven basket that had a handle and a fancy box made of wood. With the former a handkerchief would be used to warp up a meal then put inside the woven basket. The latter is believed to be used by only the rich people. These lunch boxes were but a result of increased industrialization. With the Americans working away from their homes in places such as factories it was then deemed impractical of them going home for lunch on a daily basis. This is what brought about the necessity of lunch boxes as something that would be used to protect meals and allowing for their transportation with simplicity. Various have in the past been in the manufacture of lunch boxes. Schooling children have always created a market lunch boxes with materials such as vinyl and plastic being used for this market. For the adults the most co mmon materials for their lunch boxes are metallic in nature for instance aluminium or tin. These materials are used for purpose of increasing robustness of the lunch boxes and that may last for a long time. The year is 1954 in Sudbury in the region of Ontario a miner by the name Leo May invented the aluminium lunch box. The idea of this lunch came as a result of him accidentally crushing his lunch box made of tin. History has it that the Mickey Mouse the first character lunch box made of tin was produced by Frey, Paeschke and Geuder in 1935. In the 1950 the Aladdin industries came up with a creation of the first lunch box meant for children basing their invention on Hopaong Cassidy a show on the television. This

Social Problems Coursework Example | Topics and Well Written Essays - 250 words

Social Problems - Coursework Example Hence, it is critically significant to minimize or eradicate the seeming inevitable social problems in order to have healthy societies. Alcoholism is a social problem that has deleterious effects on the abuser, the close family, and the wider community (Zimberg, 2013). It is thus important to manage alcohol abuse at local levels in order to avoid undesirable ramifications. Creating awareness about the dangers of alcoholism at the societal level is a significant step towards eradicating the social problem. Typically, educational campaigns and seminars can equip the society with skills to prevent or moderate their drinking behavior. Abstinence from alcohol can be a challenging endeavor, but it does not involve any risks (Lessa & Gilbert, 2009). Thus, educating the community on the significance of avoiding alcohol can save the society from the social problem. It is crucial for the alcohol drinkers to set realistic targets for alcohol use and keep an honest record of their drinking habits. Similarly, collaborating with the policymakers and local government to establish rehabilitation centers can yield good results towar ds instilling behavioral changes on the alcohol abusers. Additionally, controlled drinking support groups can assist the drinkers to moderate their drinking habits and regain

The Tourism Product Companys Role

The Tourism Product Companys Role Discuss the importance of delivering quality services in the hospitality industry and identify differences if any between service delivery in the hospitality and service delivery in other business. Tourism is our main source of income in Jamaica so we depend highly on the tourism industry, in order to have a successful industry we must provide quality service. Some of the services that we offer are: transportation by air, land and sea, adventure and we also provide a relaxing atmosphere just to name a few. We also provide good customer service, customer delight which is exceeding our customers (tourist) expectations and creating raving fans for your business. Two main reasons for customer delight are to retain business and to persuade them to be ambassadors for our services. Good customer service provides goodwill, increased repeat business, excellent word of mouth marketing, respect and recognition of being professional. (company, 2006) In every business customer service is key, they rely on repeat customers for the growth of their business if the customer is not satisfied with the level of service they get from a business they will not go back to said place. The difference between service deliveries in the hospitality industry to service delivery in other businesses is that in a business like Grace Kennedy they use indirect services, which include financing, transport and communication; they are supportive of the creation of goods and services. They make it possible for the goods that have been produced to be distributed and made available to the customers for whom they are intended however in the Hospitality industry they use indirect service this includes such areas as Education, Health care, Administrative services and tourism. Tourism is one indirect service that demands our special attention. In most of the Caribbean territories like Jamaica tourism rank as the highest major industries. It provides a high leve l of employment, is a great earner of foreign exchange, and supports many other businesses, including Hotels, Entertainment, Cottage industry and Farming. (Elise Webber, 1990) COMMUNITY BASED TOURISM Community based tourism has, for over three decades, been promoted as a means of development whereby the social, environmental and economic needs of local communities are meet through the offering of a tourism product. However, whilst many projects have been funded in developing countries, their success (or otherwise) has not been widely monitored and, therefore, the actual benefits to local communities remain largely unqualified. Identify the pros and cons of community based tourism and discuss the implications on the country on a whole. Community based tourism is usually owned and operated by people in the community. Most Jamaicans feel alienated from the tourism industry and do not believe that they benefit from tourism. It therefore, becomes important for individuals to become stakeholders as they will now have a reason to protect and sustain the industry. The Tourism Master Plan has identified community tourism as the avenue to achieve sustained growth, environmental sustainability, enhanced visitor experience, increased employment and community development. (company, 2006) Community Tourism was developed and pioneered in Mandeville Jamaica by Diana McIntyre-Pike, hotelier/tourism consultant and Desmond Henry an ex-Director of Tourism in 1978. The Astra Country Inn became the centre for Community Tourism and has been recognized as the pioneer hotel in Community Tourism. Several presentations have been done locally and internationally by Mrs. McIntyre-Pike and Mr. Henry on Community Tourism which has now allowed it to become a world recognized tourism. For example, the International Institute for Peace through Tourism invited Mrs. McIntyre-Pike as one of the worlds 200 success stories speakers at their second Global Conference in 1994 to present the history of Community Tourism and its future. Since then the Institute has selected the Astra Country Inn as one of its case studies internationally in community-based tourism. (Pike) Community Tourism embraces sustainable development through tourism and focuses on the ecology, heritage, culture and way of life of a community and its people. Eco-tourism, Heritage Tourism, Cultural Tourism, Adventure Tourism are a few examples of the types of special interest markets under community tourism. There tends to be much confusion of Community Tourism as it is being seen as one of the special interest type of tourism rather than what it really is a tourism that is community-based in all aspects of the way of life. Sustainable tourism cannot be successful without the participation of communities in the development and management. In 1988, Country style was created as the marketing and development organization for Community Tourism. Country style worked in association with the Central and South Tourism Organization (CESTO) to develop the Community Tourism programme. The central and south area of the island was targeted as the model region for the development. The main focu s is on: Private Home stays where visitors can stay in a private home with families and experience their way of life during their vacation. This has proved very successful as it has enabled visitors to get the best of Jamaicas hospitality, learn the culture, heritage, entertainment, cuisine and more. Country style now receives daily requests for this type of accommodation through e-mail and fax from all over the world. Bed Breakfast accommodation is also encouraged in the communities participating. Anyone interested in becoming an official bed breakfast facility are advised the requirements needed for TPDCo. Country style is very selective where their visitors stay and has had a successful level of satisfaction. Country style specializes in serving special interest markets. These markets are researched and tour packages are developed to suit the interests of visitors. An educational institution uses Jamaica through Country styles Community Tourism programme as a lab of cross-cultural study and research. For example Penn State University was the pioneer educational institution which requested Country style to develop an all-island tourism and environmental package which included community interaction and meeting resource persons working directly in tourism. Seminars were held in each location where the good, bad and ugly of the community was openly discussed, analyzed and recommendations for action determined. This information assisted Country style to assist communities in developing projects for improving the product. The Country style Institute for Sustainable Tourism (CIST) was created to facilitate community training through existing training institutions for sustainable development through tourism. Major partners include CESTO, HEART- Trust/NTA-Kenilworth, NCTVET, West Indies College, Knox Community College, New Beulah Moravian Church, Hibiscus Cultural Tours International, Western Catering School, Penn State University, Caribbean Action for Sustainable Tourism (CAST). CAST has endorsed the work of CIST and has indicated interest in collaborating with CIST to develop the Caribbean community training programme for Sustainable Tourism. The Executive Director of CIST is Mr. Barry Bonito (Pike) Country style Community Tours has successfully attracted many visitors through the Community Experience packages which give visitors the flexibility to tour Jamaica with community persons and allowing them to stay in Villages Island wide which has been sensitized by the Country style group. Visitors are protected from harassment and crime because of the approach of educating communities before they are exposed to visitors. The visitor responses to these packages in Jamaica have now encouraged Country style to develop Caribbean packages (Pike) The Governments role in the development of community based tourism is to ensure that adequate infrastructure is in place, for example, roads, light, water and telecommunication services. To ensure that training programmes are implemented based on individual skills and the requirement of the project. To ensure that effective marketing programmes are implemented and to ensure that adequate safety and security measures are put in place. (company, 2006) The Tourism Product Development Companys role in the development of community tourism to assist in project development ensuring that necessary amenities and physical structures are in place through the project Development Department. To ensure that tourism entities are on par with the required standard of the industry through the standards development. To ensure that individuals are trained in various skill areas such as management and technical support of the development of community tourism, tour guiding, CPR First Aid, customer service and tourism awareness. These programmes would be implemented by the human resource development. (company, 2006) Some benefits of Community based tourism is that it provides employment for persons in the community, increase opportunity for social and cultural interchange, it increase income which will allow improvement of infrastructure and enhancement of the community and provide the quality of life. (company, 2006) Cultural preservation (economic incentives to preserve food, fashion, festivals and physical history, but these tend to be superficial elements of a culture.) environmental protection (econ incentives to preserve nature, wildlife and urban cleanliness) Foreign exchange (generates resources to import food, pharmaceuticals, technology, consumer goods.) Development of health care services (those these arent always available to local people.) (unknown, about ct/benefits.htm) According to the Gleaner published Monday October 2 2001, Former Tourism director Desmond Henry criticized the Jamaica tourist board (JTB) for not recognizing the development of community based tourism on the south coast the future of Jamaicas tourism is on the south coast and it lies in community tourism. There is a whole lot to be done, there is a need for additional rooms but the most important thing is the need for trainees and the community has to understand its role in this important development. He went on to say that the Jamaica Tourist Board has not taken community tourism seriously enough to assist those involved. By employing trainees in the community this will decrease unemployment and poverty in said community. (www.jamaicaobserver.com, 2011) Tourism Minister, Hon. Edmund Bartlett, says community-based tourism has the potential to significantly boost employment for persons in rural Jamaica, while further driving the development of the product. Speaking at the National Consultation on Community-based tourism, held at the Devonshire Restaurant at Devon House, in Kingston on September 8, Mr. Bartlett said the policy framework for the community-based tourism strategy will facilitate the provision of a wide range of job opportunities in the sector. The consultation aims to facilitate further dialogue among stakeholders on the draft Community-based Tourism Policy and Strategy, which has been submitted to Cabinet for consideration. In January 2010, the Ministry of Tourism and the Jamaica Social Investment Fund (JSIF) signed an agreement for the development of a community-based tourism policy under the Rural Economic Development Initiative (REDI) project. The project is being funded by the Government of Jamaica and the World Bank, through a US$15 million loan. This will benefit and empower many vulnerable groups, such as women, young people, as well as under-skilled and unemployed individuals, the Minister noted. Mr. Bartlett said the policy will also help to address numerous weaknesses at the community level that have hampered the growth of community-based tourism enterprises for years, such as the lack of entrepreneurial capacity, and a limited understanding of tourism markets and the sector in general. The policy will target these shortcomings by providing appropriate approaches to planning and management for such entities as well as institutional arrangements, technical assistance and support, he explained. Mr. Bartlett informed that the policy and strategy, being developed under the guidance of the JSIF, is intended to facilitate the development of a framework aimed at enhancing the policy and institutional capacity needed to develop community-based tourism as a sustainable growth sector locally. I must underscore that this is a vital initiative, as despite the fact that the tourism sector remains the islands primary foreign exchange earner and the driving force of the Jamaican economy, there is still considerable potential for further growth and development, he said. Despite our successes to date, broadening our range of tourism offerings remains an important pillar in our thrust to diversify our product, and developing community based tourism is key to this initiative, he remarked. (unknown, www.jamaicans.com, 2011) Some disadvantage of community based tourism is Cultural destruction, (modernization (world mono-culture), freezes culture as performers, loss: language, religion, rituals, material culture.) primary products (sun, sand, surf, safari, suds, ski, sex) (little value added, neo-colonialism) Environmental destruction (game drives, resorts: golf, ski, beach, desert, world as play ground, SUV.) Marginal employment (low skill, low wage, menial services, prostitution, drug trade, gambling, hustlers.) Low benefits (no job security, no health care, no organizing, no work safety rules or enviro standards.) Development of illegal and/or destructive economic activities (markets for drugs, endangered species, etc.) Outside hiring (skilled middle and senior management recruited out of the area and transferred in.) Concentration employment (walled resort enclaves.) seasonal employment. (mozer) Solutions (for visitor) act to support cultural diversity engage in activities that add value to the community dont do activities that deteriorate the environment dont engage in illegal activities act to disperse the benefits Patronize locally (community) owned enterprises. Solutions (for the host) support the traditional cultural legacy Training and education in local culture, history, natural science, etc. select development and activities that draw from local traditions and add value to the community dont promote activities that deteriorate the environment dont engage in illegal activities adopt a program to disperse the benefits Patronize locally produced products and locally (community) owned enterprises. Make business and foreign exchange transactions transparent and efficient. (unknown, about ct/benefits.htm) 2) Community based tourism is an alternative type of tourism that can be used to diversify Jamaica Tourism Product and provide Jamaica with a competitive advantage. Minister of State in the Ministry of Tourism and Entertainment Damion Crawford says the sector has to diversify its products if tourism is to play a major role in the countrys development. Crawford says tourism can play a pivotal role in Jamaicas development, but adds that offering the same products to every visitor cannot be the answer. Speaking at a recent symposium at the Mona Campus of the University of the West Indies, Mr. Crawford echoed calls for the west Kingston community of Trench Town to be promoted as an area for cultural tourism. He says although the community was made popular by Jamaican music icon Bob Marley, it is still not promoted for the cultural experience. (www.jamaicaobserver.com, 2011) Community based tourism is good for the countrys economic growth and it help to decrease poverty. According to the UWI Community based tourism, however, offers a unique opportunity for Jamaica. The process of community based tourism development if managed effectively has the potential to alleviate poverty and illiteracy. Community based tourism also has the potential to develop the natural creative energy of Jamaicans by transforming average citizens into entrepreneurs. It can be used to develop strong partnerships by twinning existing traditional tourism entrepreneurs. It can be combined with the existing tourism product offerings to create a uniquely Jamaica experience. Community based tourism can be a standalone venture of a partnership of the traditional products blended with Jamaican charm, culture and heritage to create a community tourism spirit that culminates in a truly Jamaican experience. Community based tourism can bring out the best in Jamaican people. (UNKNOWN) Technology Technology has significant impact on the development of the travel and tourism industry. Discuss Technology has played a significant role in the development of the tourism and travel industry. This has been seen through the internet, telecommunication services and point of sale (POS). By using the internet it is easier for you to go on vacation without the hassle, you no longer have to guess if the destination u want to go have the facilities you want you can now go on the internet and research your destination. Also if youre a adventurous person and your coming to Jamaica the internet would also help you to find a hotel near the places you want to see, For example if u wanted to visit Dolphin cove, Dunns river and mystic mountains by doing your research you would not book a hotel in Kingston which is too far from where u wanted to be. By using the internet u could also check to see when it is cheaper for you to travel and get deals with the hotels and airline. You also want to know that when u are going on vacation u can access your bank account. If all this is not possible then u would not want to go on vacation. You want to know that u can still stay in contact with your business while relaxing on the beach. CONCLUSION In conclusion delivering quality service is very important not only in the tourist industry but in other businesses. If customers are not satisfied with the level of service they get they will not come back to your business and we rely mostly on our repeat customers. Community based tourism is also important because it allows the local residents to be involved in tourism and it provides employment and decrease poverty. Technology is important in the tourism industry because without it persons would not leave their business or family to go on vacation knowing that they are not going to be in contact with them.